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.
For many homeowners, their mortgage payment contains more than just principal and interest. A little something called PMI could be representing a significant portion of that payment, and it's important for home buyers to understand this cost.
Are you in the market for a new home? If you are considering a mortgage, you may be curious about mortgage insurance, commonly referred to as PMI or MI. Let's explore the topic of mortgage insurance, including how it works to reduce risk and how it benefits you as the mortgage borrower.
When you've been in your home for a while and have established a certain amount of equity, it can be a good feeling to know that you have an investment you can count on. However, with changing weather patterns you may be afraid of a natural disaster striking and what it could mean for your financial well-being.
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.
Owning real estate can make a big difference on your tax return, so make sure that you're taking advantage of all the deductions you're entitled to.
The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter. "Going FHA" is more common than ever before -- but is it better?
Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.
Beginning with FHA case numbers issued on or after October 4, 2010, the FHA is changing its upfront and annual mortgage insurance premium structures.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what's coming next. Recently, we saw this with respect to FHA home loans.
Private Mortgage Insurance (PMI) is an insurance policy paid to [...]