When it comes to putting money down on a home, the standard school of thought is to put down at least 20 percent. What happens to those people that don’t have that amount? Or those people that do not want to invest that much into their home? There are a variety of programs available that allow you Read more
What if PMI Payments Disqualify you for a Loan?
It happens all of the time – a borrower qualifies for a loan based on his credit, LTV, and income; even his debt-to-income ratio qualifies, until the Private Mortgage Insurance is added into the mix. When that pesky monthly fee is added because you did not put 20 percent down on the home, your debt Read more
When is Lender Paid Mortgage Insurance not a Good Idea?
If you put less than 20 percent down on the purchase of a home, you are going to have to pay Private Mortgage Insurance, but it is not as simple as you might think. You have options when it comes down to how you pay the insurance. There is no getting around having it in one form or another, but you Read more
