PMI companies write insurance policies to protect approximately the top 20% of the mortgage against default. This depends on the lender's and investor's requirements, the loan-to-value ratio, and the type of loan program involved. Should a default occur the lender will sell the property to liquidate the debt, and is reimbursed by the PMI company for any remaining amount up to the policy value.
© 2019 Keystone Funding, Inc. All Rights Reserved. 519 S Red Haven Lane | Dover, DE, 19901. Corporate NMLS#: 144760 (www.nmlsconsumeraccess.org). Keystone Funding Inc. is a mortgage lender licensed by the following states; Delaware, Maryland, Virginia, Pennsylvania, New Jersey, North Carolina, Florida & the District of Columbia.
This is not a commitment to lend. Restrictions may apply. LTV limit is based on current, accurate appraised value. Keystone Funding Inc. reserves the right to amend rates and guidelines. All loans are made in compliance with Federal, State, and Local laws. Keystone Funding Inc. is an equal opportunity lender.