Browsing Posts In: Finance

What is PMI? | Private Mortgage Insurance

June 18, 2016 Posted by:

  What is PMI? When you make a down payment of less than 20%, the lender requires private mortgage insurance, or PMI. The policy protects the lender from losing money if you end up in foreclosure. PMI also is required if you refinance the mortgage with less than 20% equity. Private mortgage insurance fees vary, […]

Get Ready! Information you need for a home loan

June 9, 2016 Posted by:

Talking with a Bank or Lender right now is a very important first step in buying a home. Your Bank or Lender can help guide you, and will let you know how much money you are able to spend on a home! They can also calculate your monthly house payments. With all this great information […]

Hidden Insurance Policy | What You Need Before You Buy a Home!

June 1, 2016 Posted by:

Hidden Insurance Policy Private Mortgage Insurance (PMI) is an insurance policy that covers your BANK or LENDING INSTITUTION against loss in case a homeowners DEFAULTS or stops paying their home loan. The BANK or LENDING Institution bears less risk because FHA will pay a “claim” to the BANK or Lending Institution in the event of […]