A lender will generally require private mortgage insurance (PMI)if the down payment is less than 20 percent.

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This is true. Private mortgage insurance (PMI) is a type of insurance that protects the lender if the borrower defaults on the mortgage. Lenders typically require PMI if the down payment is less than 20 percent to offset the increased risk of lending to a borrower with less equity in the property.

A Lender Will Generally Require Private Mortgage Insurance (PMI)if the Down