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Home  /  Learn About Mortgage Insurance  / 

What Is Mortgage Insurance?

  • What Is Mortgage Insurance?
  • Why Mortgage Insurance?
  • Compare Mortgage Insurance
  • Glossary

Buy a home with less than a 20% down payment


  • Traditionally, lenders have required a down payment of 20% of a home’s purchase price to qualify for a mortgage.
  • Mortgage insurance can help you buy a home with less than a 20% down payment -- and as little as 3% down.
  • It provides financial protection to lenders and investors if a homebuyer defaults on a mortgage loan.
  • Mortgage insurance is not mortgage life insurance, which pays off your mortgage if you become disabled or die. Nor is it homeowners insurance, which protects you from loss due to fire, theft or other disaster.


If you have a home loan with mortgage insurance, your mortgage payments will include the cost of the mortgage insurance premium. The premium can be paid monthly, annually or up front. The mortgage insurance provides financial protection for investors and lenders in case of mortgage default.

Meet Brian

A borrower compares mortgage payments on an FHA loan to a convention loan with Genworth MI.

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