It is a fee that you pay for to protect the lender in the case of your defaulting on your loan down to 78% loan to value.
The lender chooses which company to go with and there are no cute spokespeople like a Gekko!
If you have a more detailed questions, please give me a call or email.
Broker/Owner, Multi-state Licensed Real Estate Brokerage U S Spaces, Inc.
Managing Member, NMLS Certified Mortgage Brokerage U S Loans Mortgage LLC
215.238.9400 East Coast
415.683.6950 West Coast
2043 Locust Street Phila, PA 19103 215.829.8850 x201
4354 Perlita Ave Los Angeles, CA 90039 310-741-7179
Licensed Real Estate Broker PA- U S Spaces, Inc.
Real Estate Broker, CA Dept of Real Estate DRE#01507615
NJ Licensed Real Estate Salesperson- U S Spaces
U S Loans Mortgage LLC #51022
Licensed by the Commonwealth of PA Department of Banking,
Virginia State Corporations Commission, License #MC-4943, State of Florida
California licensed with Signet Mortgage, NMLS# 168365, DRE#01403423
Personal Virginia Mortgage License #MLO-523VA
NMLS Test Certified National License #133975
http://usloans.com for live rates and online mortgage applicationï¿¼