Want to drop your private mortgage insurance (PMI) payments like a pair of cheap sunglasses? Don't know where to start?
Look, when interest rates were moving lower and property values were moving higher, the headache of canceling PMI took a back seat. And why not? In that climate, homeowners typically just refinanced and both dropped PMI and got a lower rate.
But when interest rates move higher and home values flatten or even go lower, many owners strive to preserve their great mortgage rates and focus on getting rid of that extra monthly insurance payment … (2 comments)
Is an FHA mortgage the best choice if you have bad credit?
What if you have a low down payment, or even no down payment from your own savings?
If you're ready to quit renting right here and right now, let's learn how to rock an FHA home loan:
Watching the world wake up,
Rob Spinosa SVP of Mortgage Lending Guaranteed Rate NMLS: 22343 Cell/Text: 415-367-5959 rob.spinosa@rate.com
Marin Office: 324 Sir Francis Drake Blvd., San Anselmo, CA 94960 *The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved … (9 comments)
Maybe you just got the news from your loan officer that you need an FHA loan in order to qualify for your home purchase. "Oh brother," you say, another acronym, additional lending jargon and still more ways to be confused about the whole mortgage process. Or not? What are the differences between an FHA loan and a "regular" or conventional mortgage? Let's take a look at some of the most frequently asked questions that swirl around FHA loans and cut right to the chase of what you need to know in order to determine if an FHA loan is a … (11 comments)
Nearly every home buyer initially hates the "P" word --- PMI, or private mortgage insurance. Years and years of conditioning have taught generations upon generations of first-time buyers that PMI is something to be avoided at all costs, and even though I daily go to great lengths to demonstrate this is patently untrue, even those that come to see the light about PMI and find themselves with a form of private mortgage insurance will soon arrive at their next concern: "When can I remove the PMI from my payment?"
How to Get Rid of PMI on Your Mortgage
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