Mortgage is a type of loan for the purchase or maintain of any real-estate. At the very outset, it needs to be clear that a mortgage insurance protects the lender, not you. Mortgage insurance is becoming increasingly popular now-a-days. It actually guarantees the repayment of the loan in case of any unfortunate event.However, even with a mortgage insurance, you have to pay off your loan. If you cannot repay the loan, you can lose your property.In case of USDA and VA loans, no down payment is required, but in case of FHA loans, 20% down payment is a conditions for the lenders. Mortgage insurance is calculated in accordance with the percentage of your home loan.