What is Mortgage Insurance?: Its Types & Significance
Did you know that mortgage insurance helps lots of people buy homes, even if they don’t have a big chunk of money saved up? It’s like a safety net for lenders, making it possible for folks with smaller down payments to get approved for home loans. Over the last 66 years, private mortgage insurance (PMI) […]
What is Private Mortgage Insurance?
With modern home prices being what they are, it is no longer unusual for home buyers to carry what is known as private mortgage insurance (PMI). PMI is generally perceived as being a necessary evil and something buyers could do without. But it doesn’t have to be a bad thing. When you consider what buyers […]
FHA Mortgage Insurance to increase
HUD has announced that in an effort to bolster it’s capital reserves they are going to once again increase the mortgage insurance premiums on FHA loans. The change will go into effect once they issue a mortgagee letter and set a start date. The impact would be about $17 per month increase in mortgage insurance […]
