Lenders often require borrowers to pay for private mortgage insurance (PMI) on top of their mortgage loan. PMI is a type of insurance that actually protects the lender, not the borrower, against default and loss. If the borrower contributes less than a 20
May 16, 2023 |
As you begin the mortgage process, you’ll have lots of terminology thrown at you that can be a little confusing. Two similar sounding terms that might have you perplexed are conforming and conventional loans. Are these the same thing? Here’s w
May 09, 2023 | Purchasing a Home
After making all your mortgage payments for several years, you suddenly get a check in the mail from your escrow account. If you didn’t pay close attention during your mortgage closing, you may not even remember what an escrow account is. Here&rsquo
May 02, 2023 | Purchasing a Home
If you are in the market for a home loan, an adjustable-rate mortgage may be very attractive in today’s higher rate climate. If you’ve looked into ARM loans, you may also have come across the term “convertible ARM.” If you’re unfamiliar with this product,
Apr 25, 2023 | Purchasing a Home
If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of dete
Apr 24, 2023 | Purchasing a Home mortgage brokers Interest Rates Preapproval
There are many ways to structure a loan for buying a home. One lesser-known way is with an assumable mortgage. Here’s what that means and how it works: What is an Assumable Mortgage? An assumable mortgage is a home loan where the buyer legally takes over
Apr 18, 2023 | Purchasing a Home