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Compare mortgage insurance when two loan rates look the same

Two mortgage offers can have similar rates and closing costs but different monthly totals. Eric’s example focuses on private mortgage insurance, a cost worth including when you compare financing.

By Eric Hamilton · Published October 7, 2026

Originally uploaded November 19, 2024 · 0:57 · Watch on YouTube

Written companion added October 7, 2026. Adapted from Eric’s video captions with source checks; not a word for word transcript. The recording retains its original date.

See the difference in the example

In this November 2024 recording, Eric describes one mortgage insurance quote of $510 per month and another of $275. The arithmetic difference is $235 each month. Those are figures from the client situation he describes, not premiums available to every borrower. The clip does not supply the full loan details needed to recreate either quote.

Compare the insurance along with the loan

Private mortgage insurance protects the lender and is commonly required on conventional loans with less than 20% down. Ask whether it is included in each proposed payment and whether the premium structure is the same. Lenders may work with different insurers, so ask what options your lender can offer rather than assuming you can choose any provider independently.

Use payment room deliberately

The video translates its example into additional potential buying power. That conversion depends on loan terms and property costs, so it should not be treated as a universal home price increase. A lower insurance premium could instead create breathing room or support savings. Compare the full payment, cash needed and expected borrowing costs before deciding how much of the difference to use.

Is mortgage insurance the same as homeowners insurance?

No. Mortgage insurance protects the lender; homeowners insurance covers specified property risks under its policy.

Will comparing premiums save me $235 per month?

That was the difference in Eric’s example. Your available premiums depend on the loan and borrower details.

Sources and scope

Adapted from captions of the video published 2024-11-19. Statements about rates, inventory, programs or events describe the original recording and are not a current quote or availability promise.

  1. CFPB: Private mortgage insurance Accessed October 6, 2026

General education, not a loan quote, approval or an individual recommendation. Ask the appropriate professional about your situation.

KEEP LEARNING

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