How to Use a DPA Loan to Eliminate Your Down Payment
What is a Down Payment Advantage (DPA Loan) and how can it help you eliminate your down payment for an FHA Loan? Here’s some helpful insight.
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What is a Down Payment Advantage (DPA Loan) and how can it help you eliminate your down payment for an FHA Loan? Here’s some helpful insight.
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 →