Mortgage Insurance is life insurance protection for the lender that will eliminate the debt owed to them, in the case of the death of the borrower.

It is almost universally required on loans where there is less than twenty percent equity. That means if you are purchasing a home with less than twenty percent down or refinancing to more than eighty percent of your homes value, you are going to be required to have mortgage insurance.

When applying for a mortgage, always seek a second opinion about the coverage offered from the lender as many times coverage for your mortgage can be integrated with other insurance planning.