How Mortgage Loan Insurance Can Protect Your Home Buy

When purchasing a home, especially for first-time buyers, securing a mortgage is commonly a mandatory step. Nonetheless, acquiring a mortgage loan typically requires a down payment, and if that down payment is less than 20% of the home's purchase price, many lenders will require mortgage loan insurance. While this might seem like an added expense, mortgage loan insurance can play a crucial role in protecting both the homeowner and the lender, particularly in cases of economic hardship or default. Understanding how mortgage loan insurance works and the protection it provides might help you make more informed choices as you move…