One of the most popular questions from homeowners is how to drop private mortgage insurance (PMI). For some homeowners, refinancing is the best way to drop PMI, because they can also lower their … [Read more...]
What is Private Mortgage Insurance (PMI)?
Typically, a 20% down payment is required to buy a home with a mortgage. But if you do not have a 20% down payment, you could possibly qualify for a mortgage with a lower down payment by paying for … [Read more...]
FHA’s Reduction of Mortgage Insurance Premiums Lowers Mortgage Payments, and Could Boost Home Sales
On January 9, 2015, the Federal Housing Administration (FHA) officially announced that annual Mortgage Insurance Premium (MIP) rates will soon be reduced for FHA loans with terms greater than 15 … [Read more...]
Understanding Title Insurance and How It Impacts Your Mortgage Loan
When you buy a home, you will be given a title to your new property. A title is a legal document that proves you own the property, and in most cases the title excludes other parties from making an … [Read more...]
Lenders May Require You To Have Flood Insurance Before Closing Your Home Loan
Lenders require you to have flood insurance before closing on a home loan. A lender will obtain a “flood certificate” early in the underwriting process, which will also indicate whether flood … [Read more...]
Shopping for a Home? Search for Homeowners Insurance Early
If you are shopping for a home, there are several things you can do to help make the process go smoothly. Working with a good mortgage broker from the very beginning will help a great deal. A … [Read more...]
Homeowners Insurance For Your New Home
If you are buying a home, part of the mortgage process will include obtaining the appropriate homeowners insurance to protect your investment. Search for Homeowners Insurance Early You should begin … [Read more...]
Lenders May Require You to have Certain Types of Insurance on Your Home
Homeowner's Insurance Homeowner's insurance will always be required and must cover the replacement cost of the property. It should include coverage for damage due to fire, wind or other … [Read more...]
