The private mortgage insurance (PrivateMI) industry today launched a new, Spanish-language version of the popular http://www.PrivateMI.com . PrivateMI en Espanol, http://www.PrivateMI.com/enEspanol , will provide clear, easy-to-understand information in Spanish about private mortgage insurance (PrivateMI) and how it compares with other home financing options.

www.PrivateMI.com/enEspanol will include five calculators to help consumers make informed decisions about home financing. One calculator allows prospective home buyers to determine how much sooner they can buy a home using PrivateMI rather than saving for a larger downpayment. A second lets them assess how much more house they can buy with its help. Others assist consumers in comparing PrivateMI with other financing options like the piggyback loan, and calculating how soon PrivateMI can be canceled.

To learn more about PrivateMI en Espanol, log on to http://www.micanews.com/enEspanol .

MICA is the trade association representing the private mortgage insurance industry. Its members help loan originators and investors make funds available to home buyers with as little as 3-to-5 percent down -- and even less for qualified borrowers -- by protecting these institutions from a major portion of the financial risk of default.

Published: June 19, 2001

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