Outline Private Mortgage Insurance (PMI) How Mortgage Insurance Works PMI Premiums PMI Cancellation Secondary Financing Combined Loan-to-Value (CLTV) Conditions Lender First and Lender Second Repayment Methods on Second Mortgages Assumption of Conventional Loans Other Insurance Requirements Conventional – Private Mortgage Insurance (PMI) FHA – Upfront Mortgage Insurance (UFMIP) FHA – Monthly Insurance Premium (MIP) Homeowner’s (hazard) insurance Flood insurance HO6 condominium insurance Content insurance Forced Placed insurance Learning Objectives       Understand the Lender...

Outline Conventional Financing Traditional Conventional Loans 15-Year Mortgage Loans Conforming versus Nonconforming Loans Conventional Loan Programs 80% LTV Conventional Loan Higher LTV Loans Learning Objectives       Comprehend overview of mortgage marketplace       Learn about conventional loans       Know the different types of conventional loans       Identifying non-conventional loans       Determine how conventional loans easier to obtain by :       Being insured by private mortgage insurance (PMI)    ...