Myths Shattered, facts revealed. Unveiling the truth.
6 Jun 2024 · 0 min
0:22
In this brief informational segment, the speaker addresses a common misconception about mortgage insurance. The myth presented is that mortgage insurance is always required for any loan. The fact clarified is that mortgage insurance is typically required only when the borrower makes a down payment of less than 20% of the home’s purchase price. The speaker also notes notable exceptions, specifically that certain loan programs—such as VA loans for eligible veterans—do not require mortgage insurance regardless of down payment size.
