A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- Private Mortgage Insurance (PMI)An added monthly fee lenders require when your down payment is under 20 percent, protecting them if you default.
- FHA LoanA government-backed mortgage with lower down payment and credit requirements, aimed at first-time and lower-income buyers.
- VA LoanA mortgage backed by the Department of Veterans Affairs that lets eligible service members and veterans buy with no down payment.
- Down PaymentThe upfront cash you pay toward a home's price, with the rest covered by your mortgage loan.
- MortgageA loan used to buy a home, where the property itself acts as collateral the lender can take if you stop paying.
Turn this into a brick
Knowing what Mortgage Insurance means is knowledge — the first half. A brick gets placed when you act on it.
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Plain-English education — not personalized legal, tax, or investment advice.