How Mortgage Loan Insurance Can Protect Your Home Buy

When purchasing a home, particularly for first-time buyers, securing a mortgage is usually a obligatory step. However, acquiring a mortgage loan typically requires a down payment, and if that down payment is less than 20% of the home's purchase value, many lenders will require mortgage loan insurance. While this might sound like an added expense, mortgage loan insurance can play an important function in protecting each the homeowner and the lender, especially in cases of monetary hardship or default. Understanding how mortgage loan insurance works and the protection it offers may also help you make more informed choices as you…