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.
We've been helping foreign customers get a mortgage loan in the USA for many years and we love what we do.
829 N 29th Street
Philadelphia, PA 19130
Phone: (267) 297-3317