PMI: An Explanation

The Money-Wasting Mortgage Mistake You’re Likely to Make (Image credit: Kristin Duvall/Stocksy) Share Pin It Email 7 Property taxes, homeowners insurance, interest, HOA fees—when it comes to your monthly mortgage payment, your loan's principal doesn't lack company. Still, few of these additional costs and expenses draw as much ire from a homeowner than private mortgage … Continue reading PMI: An Explanation

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 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