(upbeat music)
-: Hi I'm David, this is Katy.
Wright-Patt credit union Loan Originator.
-: Thank you.
-: Made you sound like superhero.
We're gonna talk about mortgage insurance
and homeowners insurance, they're two separate things?
-: Yes, they are.
So mortgage insurance is on most products without
20 percent down.
-: Okay.
-: Whereas home owners insurance is an insurance
that protects your home.
-: Okay, so the mortgage insurance, then,
protects the lender?
-: Yes, exactly.
-: And if I don't have 20 percent to put down,
is it gonna cost me a bunch more to have that
mortgage insurance included?
-: Not necessarily.
Wright-Patt Credit Union definitely offers products
and insurance for members who maybe don't have
that 20 percent down to help still keep
your payment affordable.
-: So is there a point where it goes away
and you're not paying mortgage insurance anymore?
-: Yes, it can, on some products,
as you pay down the equity in your home,
eventually that mortgage insurance could fall off.
-: And of course, home owners insurance is
just a good idea to have.
-: Yes, I would definitely talk to you agent
when you're shopping, let them know when you find your home
to get the best rate possible.
-: Protect your stuff.
There you go.
Mortgage insurance, home owners insurance,
two separate things, who knew?
She did.
So does everybody else at Wright-Patt Credit Union.
Get in and talk to them.
(upbeat music)
Announcer: Save better, borrow smarter,
learn a lot.
Wright-Patt Credit Union's making life a little easier.