HUD suspends FHA mortage insurance rate

  HUD suspends FHA mortgage insurance rate cut an hour after Trump takes office An hour after Donald Trump assumed the presidency Friday, the Department of Housing and Urban Development indefinitely suspended a pending rate cut for mortgage insurance required for FHA-backed home loans. The move — one of the first acts of his presidency — reverses a … Continue reading HUD suspends FHA mortage insurance rate

3 Types of Insurance You Need to Buy a Home (and 4 You Don’t)

3 Types of Insurance You Need to Buy a Home (and 4 You Don't) By Craig Donofrio | Nov 21, 2016 erhui1979/iStock When you buy a home, you will be showered with offers to buy insurance—and not just one type, but many types. Such awesome deals! So which ones do you really need? There are a … Continue reading 3 Types of Insurance You Need to Buy a Home (and 4 You Don’t)

Mortgage Insurance Paid Upfront

From NYTimes.com 11/6/14 Private mortgage insurance is the bane of home buyers who can’t put down at least 20 percent. The insurance protects the lender in the event that a borrower defaults on a property with little equity, but it also guarantees a considerably higher monthly mortgage payment. An increasingly popular alternative allows borrowers to … Continue reading Mortgage Insurance Paid Upfront

PMI cost is no longer necessary

From Credit.com 10/27/14 For those who’ve gotten a mortgage in the past few years with little equity, most are all too familiar with private mortgage insurance, the added premium built into the mortgage payment insuring the lender against payment default. Measured over time, it can cost you thousands, so it’s worth a closer look — … Continue reading PMI cost is no longer necessary

How much of a down payment do you really need to buy a house?

 From Credit.com 9/12/14 Looking to get your foot in the door (of your new home)? If you’re a renter who’s tired of paying someone else’s mortgage, now may be the time to pursue the American dream of homeownership. In fact, the days of needing a 20% down payment are long gone. While you can always … Continue reading How much of a down payment do you really need to buy a house?

VA Frequently Asked Questions and Tips For Home Buyers

From Free Resources for CA Real Estate Agents November 2013 There are over 2.3 million veterans now living in California alone, with a large percentage of these based in San Diego, so VA financing plays a huge role in the CA housing market. I believe VA financing is the best purchase product available in the … Continue reading VA Frequently Asked Questions and Tips For Home Buyers