If you don’t put 20% down on a home, you’ll pay mortgage insurance in some form. If it’s a conventional loan, you pay PMI. If you opt for a government-backed loan, like the FHA or USDA loan, you pay annual insurance for the life of the loan. There’s no getting around it, unless you try one of the Read more
Irma Puts Millions of Properties at ‘Extreme Risk’ for Damages, CoreLogic Says
FLORIDA - Millions of properties, both residential and commercial, are in jeopardy as Hurricane Irma brings extremely strong winds and hurricane-driven storm surges.According to financial and property information leading provider, CoreLogic, nearly 8.5 million properties in the Southeastern Read more
Is it Possible to Get a Refund on My Mortgage Insurance?
nsLending is a risky business. That is why lenders establish specific measures to ensure that they get buffered from loss in case borrowers default on their loan. One of these measures is what many commonly know as a Private Mortgage Insurance (PMI). PMI Defined A private mortgage insurance is a Read more
How to Get Lower Mortgage Payments?
Mortgage payments take up a significant part of your monthly income. When buying a home, how much of your paycheck goes to paying your home loan is therefore a significant point of consideration. Take note that it is not the only expense you’re going to have to answer to. There are your utility Read more
FHA Mortgage Insurance: When Does Insurance Premium Stop?
FHA mortgages give borrowers a chance to own a home without putting a lot down. Those who have a hard time saving for a down payment only need 3.5% to purchase a home. On a $150,000 home, this equals $5,250. This low down payment makes owning a home easier to afford. In exchange, however, you have Read more
