LPMI
Business & Finance abbreviation · Real Estate & Mortgage
| Stands for | Lender-paid mortgage insurance |
|---|---|
| Categories | Business & Finance |
LPMI stands for Lender-paid mortgage insurance, a real estate & mortgage abbreviation.
Arrangement in which the lender pays the mortgage insurance premium on a low-down-payment conventional loan in exchange for a higher interest rate, removing the separate monthly PMI charge.
Example: LPMI made our payment lower now, but the higher rate stays for the life of the loan.
Usage notes
Unlike borrower-paid PMI, LPMI cannot be canceled when equity reaches 20%, so it suits buyers who expect to sell or refinance within a few years.
Related abbreviations
More real estate & mortgage abbreviations
- HWF – Hardwood floors
- IDX – Internet Data Exchange
- IO – Interest-only
- JTWROS – Joint tenants with right of survivorship
- LE – Loan Estimate
- LLPA – Loan-level price adjustment
- LR – Living room
- LTV – Loan-to-value ratio
- LVP – Luxury vinyl plank
- MBR – Master bedroom
- MIP – Mortgage insurance premium
- MLO – Mortgage loan originator