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Know these 3 loan types before you go mortgage shopping. Who they’re for: Conventional mortgages are ideal for borrowers. Homebuyers with small down payments and refinancers with little equity.
Loan Comparison Worksheet Mortgage Loan Pmi PMI, also known as private mortgage insurance, is a type of mortgage insurance from private insurance companies used with conventional loans. Similar to other kinds of mortgage insurance policies, PMI protects the lender if you stop making payments on your home loan.