If you have been thinking about refinancing your FHA mortgage, yet cringe at the thought of paying that upfront mortgage insurance premium again, you are in luck. If you originally obtained your FHA mortgage less than 36 months ago, you may be entitled to a refund of the initial premium that you Read more
Is PMI Tax Deductible in 2019?
PMI can add hundreds of dollars to your mortgage payment. You probably want to know if you can deduct this expense on your taxes, just as you can deduct your mortgage interest. With the new tax laws covering the taxes for 2018, your deductions may change and this includes deducting your Read more
What Does FHA Mortgage Insurance Do to Your Mortgage Payment?
FHA mortgages always include mortgage insurance. It’s not just until you owe less than 80% of the home’s value either. You pay the mortgage insurance for the life of the loan. While that’s not the best news you want to hear, the good news is that the insurance does decrease over time.Compare Read more
Is the VA Funding Fee Tax Deductible?
VA loans provide veterans with 100% financing with flexible underwriting requirements. In exchange for the flexible guidelines, though, most veterans pay what’s called a VA funding fee. This fee is a percentage of your loan amount and is paid directly to the VA. It’s how the VA continues to provide Read more
Is There Mortgage Insurance (PMI) on USDA Loans?
USDA loans are a government program that provides low to middle-income borrowers with 100% financing. If you fit the income requirements, you can buy a home in a rural area with no down payment. Many people want to know if the USDA then charges mortgage insurance or PMI on the loan, like Read more
