Categories for Mortgage Insurance

Getting a Mortgage in 2016? Here’s What You Need to Know

February 9, 2016 by Leave a comment

As recently as two years ago, only 17 percent of all applications for a mortgage to buy a home were approved.[1]  Approval rates have improved greatly since then for two reasons. First, borrowers are doing a much better job of getting their credit, debt, and documentation in order before they apply.  Second, lenders have slowly... View Article

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What is a Piggyback Mortgage?

October 7, 2015 by Leave a comment

While mortgages are a good time, private mortgage insurance (PMI) is not. Usually, if you don’t have enough money to make a down payment of at least 20 percent (keeping the loan-to-value ratio (LTV) under 80%), you’re required to get mortgage insurance. Fortunately, clever people figured out a loophole—the piggyback mortgage. How it works There... View Article

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Getting Rid of Private Mortgage Insurance

October 24, 2014 by Leave a comment

You can raise your credit score, save enough cash for closing costs, and maintain accurate financial records. However, if you don’t have at least a 20 percent down payment when buying a house, you’ll have to pay private mortgage insurance. Private mortgage insurance is required on all mortgage loans with a loan-to-value ratio greater than... View Article

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