What is Keystone Mortgage Insurance?

What is Keystone Mortgage Insurance?


Hi, I’m Matt Padgett with Keystone Mortgage Insurance.

A question we get asked often is, What is Mortgage Insurance? Well first of all, mortgage insurance is totally different than homeowners insurance. Homeowners insurance, you get through your insurance agent. Mortgage insurance, you actually are going to be paying on a monthly basis on conventional loans where you pay less than 20% down payment on FHA loans. You will have mortgage insurance regardless of what you put down. That is the case for USDA as well, and for VA loans you have what is called an upfront mortgage insurance premium which is added on to the loan but you don’t actually pay a monthly premium as part of your payment. Now in conventional financing, there are options to put down less than 20% and still not have mortgage insurance.

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Knoxville TN Office
1508 Coleman Road
Knoxville, Tennessee 37909
Sarasota FL Office
1400 Peregrine Point Drive
Sarasota FL 34231
Phone: 865-909-0211
Fax: 865-909-0178
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