When preparing to buy a home, many borrowers focus on the interest rate and monthly payment, but mortgage insurance is another important factor to understand. Private mortgage insurance is often required when a borrower makes a smaller down payment and knowing how it works can help you plan more confidently and avoid surprises during the loan process.
It’s easy to get Private Mortgage Insurance (PMI) confused with homeowners’ insurance, but PMI is an entirely different thing that may or may not be necessary when it comes to your home purchase. If you’re going to be investing in a home in the near future and are wondering what PMI may mean for you, here are some things to consider regarding this type of insurance.
When a borrower applies for a mortgage loan, the lender typically requires proof of insurance […]
With many people interested in taking out a home loan, it is critical for potential homeowners to think carefully about which loan structure is right for them.
Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be needed, even if it’s not typically required by your lender.
FHA borrowers have an exceptional program available to them called the FHA streamline refinance. It’s a simple way to get a lower mortgage payment and/or lower rate, but it’s not for everyone.
Read this guide to learn all about FHA streamline refinance and how it works.
Title insurance protects the owner of a home from any claim made against their property, whether or not they are responsible. These include unpaid mortgage balances on the home, an improper foreclosure or any form of real estate fraud perpetrated by the seller.
Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be needed, even if it’s not typically required by your lender.
Title insurance protects you and your lender from title disputes and other ownership issues that may arise. Here are just a few ways that title insurance can impact your mortgage.
The COVID-19 pandemic has taken the world by storm. Millions of people all over the world have been infected and businesses have ground to a halt. During this time, it is important for everyone to take a breath, pause, and look at their insurance policies.
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