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• Insurance that protects lenders against losses caused by a borrower's default on a mortgage loan. MI typically is required if the borrower's down payment is less than 20% of the purchase price.

  Federal Trade Commission - Cite This Source - This Definition
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  Cite Definition for Mortgage Insurance (MI)

  American Psychological Association (APA)

  Mortgage Insurance (MI). (n.d.). Real Estate Marketplace Glossary. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/mortgage-insurance-mi.

  Chicago Manual of Style (CMS)

  Mortgage Insurance (MI). www.ftc.gov. Real Estate Marketplace Glossary. Federal Trade Commission. http://www.expertglossary.com/definition/mortgage-insurance-mi (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Mortgage Insurance (MI)." Real Estate Marketplace Glossary. Federal Trade Commission. 1 April. 2023 http://www.expertglossary.com/definition/mortgage-insurance-mi.

• Browse Related Terms: 203(b), Federal Housing Administration (FHA), FHA, Insured mortgage, Mortgage Insurance, Mortgage Insurance (MI), Mortgage insurance company, Mortgage Insurance Premium (MIP), PMI, Private mortgage insurance, Private Mortgage Insurance (PMI)

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