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mortgage insurance calculator: How to Choose and Calculate Your Private Mortgage Insurance (PMI) - 03/16/12 02:59 PM
Saving an eighth of a percent on interest rate can save a little on your monthly payment and shopping around on closing costs can save a little on your down payment but perhaps the most overlooked and costly mistake when buying a home is not choosing the right mortgage insurance if the down payment is less than 20%.  The wrong decision on this choice can cost thousands of dollars. Let’s take a generic purchase of 200,000 dollars with the minimum down payment and compare them but before that, here are some definitions that you’ll need: Borrower Paid Monthly Mortgage Insurance (BPMI) … (17 comments)

mortgage insurance calculator: Monthly Private Mortgage Insurance – It Doesn’t Make Any Sense - 05/30/10 12:59 AM
It is inevitable that FHA will play less and less of a role in the lending market.  As this unfolds, it's critical for loan officers, Realtors and borrowers alike to understand the many options in the improving private mortgage insurance market.  In the distant days when home values were increasing, it made perfect sense for borrowers to opt for monthly mortgage insurance and wait till their home had appreciated to the point where they had a twenty percent equity position. They'd soon call their lender to get an appraisal ordered and drop their monthly mortgage insurance.  Those days are gone.  In … (20 comments)

 
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Charles Dailey - NMLS ID#79048

Saint Paul, MN

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iLoan - NMLS ID#4474

Address: 2324 University Avenue West, Suite 111, Saint Paul, MN, 55114-1843

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