🔹What is Mortgage Insurance ?🔹
This is an option that costs a few extra bucks a month and is offered when you apply for a mortgage.
🔹It ensures that your estate won’t owe any money should a tragedy occur, offering peace of mind that your spouse or loved ones won’t have to cover the mortgage, without your income.
🔹 The cost of mortgage insurance decreases as the balance of your mortgage is paid down.
🔹 Mortgage insurance is different than life insurance. It only offers coverage towards the balance of your mortgage.
It is important to look into options that best suit your family.