Define: Private Mortgage Insurance

UK Accounting Glossary

Definition: Private Mortgage Insurance


Quick Summary of Private Mortgage Insurance


Insurance that is part of a mortgage contract to protect the lender.



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Examples of Private Mortgage Insurance in a sentence


Most banks require private mortgage insurance if the prospective buyer does not have a down payment of at least twenty percent of the cost of the home.
When developing a monthly budget, make sure you account for the private mortgage insurance payments as well as the principal on the mortgage itself.


Synonyms For Private Mortgage Insurance


PMI


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/private-mortgage-insurance/
Modern Language Association (MLA):
Private Mortgage Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. March 29, 2020 https://payrollheaven.com/define/private-mortgage-insurance/.
Chicago Manual of Style (CMS):
Private Mortgage Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/private-mortgage-insurance/ (accessed: March 29, 2020).
American Psychological Association (APA):
Private Mortgage Insurance. PayrollHeaven.com. Retrieved March 29, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/private-mortgage-insurance/

Definition Sources


Definitions for Private Mortgage Insurance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 15th February 2020.