mortgage insurance: How much to bring to the table at closing? - 10/02/17 06:54 PM
As a real estate agent some of the most common questions that I receive from buyers are how much is the closing costs, how much is down payment, and how much to bring to the table at closing.  The most accurate answers that any buyer can get is to consult with their lender.  However, having said that, generally these are what a buyer or a borrower can expect to pay:
 
Downpayment (Each mortgage type has their own standard requirement for down payment):
 
FHA- 3.5% down payment required
VA- No down payment required
USDA- No down payment required
Conventional- Minimum 5% down payment required (There are 3% … (5 comments)

mortgage insurance: Benefits of Mortgage Insurance - 08/14/17 01:30 PM
 
A client recently told me that she absolutely hates PMI or MI and will avoid it at all cost even if it means she has to wait to purchase a home.  Here’s my thought, before you write off mortgage insurance, let’s look at how it may provide valuable opportunities and options to you as a homebuyer.
 
Increased buying power. Say you’ve saved $20,000. You can use that cash to put 20% down on a $100,000 home OR you could make a smaller down payment on a more expensive home (bigger and nicer) — for example, 10% down on a $200,000 home. … (5 comments)