Understanding Lender Paid Mortgage Insurance (LPMI) With LPMI, your mortgage insurance premium is paid upfront in a single lump sum and the cost is passed onto you in the form of a slightly higher interest rate. With LPMI, your mortgage rate often is .25% -.375% higher, but the net effect Continue Reading →
If you feel like it might be the right time to finally buy your first home, your excitement is probably mixed with a bit of apprehension. After all, owning a home is a huge financial commitment, from paying that pricey down payment to keeping up with monthly mortgage bills. And Continue Reading →
Estimated Monthly Payments for New 3% Down Mortgage – NO Mortgage Insurance Assumptions: SFR, 720+Fico, Owner Occupied, First Time Buyer, max loan amount $417K Sales Price: $425,000 Loan Amount: $412,250 Loan Type: Conventional Fixed 97% LTV Interest Rate: 4.50% / 4.63% APR Principal and Interest: $2,089 Property Taxes: $443 Continue Reading →
If you have an FHA loan or conventional loan with mortgage insurance you might have an opportunity to save big $$$ on your monthly payment through refinancing . New programs offer No Mortgage Insurance with as little as 5% equity up to a $417K loan amount and 10% equity up Continue Reading →
Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today.
