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Home mortgage loan insurance payments

Mortgage loan insurance payments are payments you make if you get mortgage loan insurance for your home mortgage loan.

You have to make mortgage loan insurance payments if you get a "high-ratio" home mortgage loan and use one of The Mortgage Store Online's institutional lenders (like a bank or trust company). In English, that means if you borrowed more than 75% of your property's purchase price from an institutional lender, you gotta get your mortgage loan insured. Why? Cause your lender was nice enough to lend you a good chunk of money, so mortgage loan insurance provides them with protection (them still being able to get their money back) in the case you can't make your mortgage loan payments to them anymore.

You can have mortgage loan insurance payments added into your regular mortgage payments. Or you can make one payment - a single large insurance payment - right away when you get your mortgage loan, and not have to worry about making any more insurance payments ever again.

Just so you know: really, your mortgage loan insurance is paid right away when you get your mortgage loan, by your lender. They pay the mortgage loan insurance company directly. So, no matter which route you choose to make insurance payments, you're really just paying back your lender for insurance they already paid for.

Get a home mortgage loan today! Fill out the home mortgage application.

Pssst! Sometimes people confuse mortgage loan insurance payments with mortgage loan life insurance payments. It's important to know the difference.

Want to find out more information about mortgage loan insurance payments? Then contact The Mortgage Store Online's brokers by using the contact form or by calling them at 1-866-880-2577.

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