Tag Archive: mortgage insurance

3 Unexpected Types of Insurance You Need as a Homeowner

May 21, 2015 by Leave a comment

Your home is your biggest investment, so it goes without saying that you’ll do anything to protect your property. This is why you have homeowners insurance to covers damage to your property and belongings in the event of theft, fire or natural disaster. Additionally, homeowners insurance provide liability coverage if someone is injured on your... View Article

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New FHA Home Loan Guidelines for 2015

January 26, 2015 by Leave a comment

If you need a low-down payment mortgage and you don’t have the best credit score, an FHA home loan can help you get the keys to homeownership. The FHA home loan program has been around since 1934 making homeownership affordable for many. With the new year underway, the Federal Housing Administration recently announced changes to... View Article

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Mortgages are Getting More Affordable for First-Time Buyers

January 12, 2015 by Leave a comment

Thanks to a series of recent decisions, authorities are opening up the mortgage marketplace to more first-time and low-income homeowners. Last month, Fannie Mae and Freddie Mac announced that they will begin backing fixed-rate mortgages with down payments as low as 3%. Then, last Thursday, the President announced a 0.5 percent cut to the mortgage insurance premiums... View Article

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President to Announce FHA Insurance Cuts

January 7, 2015 by Leave a comment

Tomorrow (January 8th, 2015), President Obama is expected to announce a 0.5 percent reduction of the Federal Housing Administration’s mortgage insurance premiums. This lowers premiums from 1.35 percent of the loan balance to 0.85 percent, opening up room for more homebuyers to take advantage of the program. According to Bloomburg: “Under the new premium structure, FHA... 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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