pmi: Ever Had This Question? - 04/11/18 06:06 AM
I'll bet you've had this question dozens of times, especially when a buyer is receiving a mortgage through the FHA (Federal Housing Authority). I was brought up with the notion that you had to have a 20% down payment when purchasing a home. That and, 1 weeks pay = 1 months rent/mortgage. Those days are long gone especially for 1st-time buyers. 
Some lenders will allow lower down payment loans for conventional loans but will charge a higher interest rate. Either way, if you are a buyer make sure you understand what PMI is.
Here is a good graphic and information put out by … (10 comments)

pmi: PMI...What is It? - 05/10/17 08:46 AM
Private Mortgage Insurance (PMI) is required if the buyer has less than a 20% downpayment. It protects the BANK from losing money when a homeowner stops paying the monthly mortgage payments and goes into foreclosure.
Depending on the whims of Congress, PMI payments are sometimes deductible. Check with your tax professional. 
Note: If you are a veteran and securing a VA mortgage there is no PMI
 
Get All the Facts about PMIby The KCM Crew on May 2, 2017 
 
When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With … (7 comments)

 
Doug Dawes, Your Personal Realtor® (Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA)

Doug Dawes

Your Personal Realtor®

Topsfield, MA

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Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA

Address: 11 South Main Street, Topsfield, MA, 01983

Mobile: 978-270-3037

Office: 978-887-3995

There is more to life than Real Estate. My intention is to provide not only Real Estate information but items that we all face and experience in our daily journey through life.


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