mortgage insurance: Want to Cancel Your FHA Mortgage Insurance Premiums?
- 05/11/12 12:39 AM
Here’s How As compared to conforming loans and jumbo mortgages, FHA-backed loans are great for a lot of reasons. FHA mortgages allow purchases with low downpayments; they allow refinances without appraisal; and FHA mortgage rates are often pretty low. One place where FHA mortgages fall short, though, as compared to other loan types is with respect to mortgage insurance. FHA mortgage insurance can be cumbersome and costly. If you're going to take an FHA-backed mortgage, you need to know how FHA mortgage insurance works. With FHA, Everyone Pays Mortgage Insurance Twice The FHA's role in Mortgage World is different from Fannie … (1 comments)
mortgage insurance: How Much Down Payment Do You Really Need?
- 12/09/11 02:18 AM
If you listen to the news media, you might think that without a 20% down payment you won’t be able to get great low rates and favorable terms for your purchase. Well, surprise, surprise! That’s just not so. Certainly 20% is the magic number if you don’t want to pay mortgage insurance. Mortgage insurance protects the lender in the event of default. You can understand that the lower the down payment the higher the risk for the lender. So it stands to reason if you want the lender to do business with you mortgage insurance is a small price to pay. … (2 comments)
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Hal Tennant
Get a Zero Down Mortgage - How to buy a home with...
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