Blog Category: PMI

January 5th, 2017 Truth Lie Street Sign
January 5th, 2017

9 Mortgage Myths To Stop Believing

Buying and financing a new home can be a daunting task and many of us turn to friends and family for advice. Watch out for mortgage myths. The only experts in the mortgage field….are the experts in the mortgage field! Friends and family might not be the experts they think they are. The mortgage guidelines and interest rates are changing so frequently that unless someone is in the mortgage field as a full-time job, you should only take advice from a mortgage professional. Read More

Categories: mortgage, , , , , , , , , , , ,

July 31st, 2012 wallet
July 31st, 2012

Get The Lender To Pay Your PMI?

When someone says the words: mortgage insurance, most people have a negative reaction because they think paying mortgage insurance is a waste of money. Most people, of course, always think they are qualified well enough and should not have to pay PMI (Private Mortgage Insurance). But most people don’t realize the low down payment loan they need would not even exist without PMI. So maybe its not as evil as first imagined. Another thing that people do not realize is that there is an option to get the lender to pay for the PMI. It is called LPMI, which stands for Lender Paid Mortgage Insurance.

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Categories: interest rates, Underwriting Rules, , ,

February 27th, 2014 doors and choices
February 27th, 2014

PMI versus LPMI versus 1st trust/2nd trust Combo Loan

Everyone likes to think PMI (Private Mortgage Insurance) is evil. People like to think they should not have to pay it, and want to find a way around paying it. There are ways to work around PMI. But like all things in life, there are trade-offs. A person really needs to look at all the options and trades-offs, and consider how long they think they are likely to spend in their new home. Then everyone needs to consider paying PMI! What do I mean? Read More

Categories: Loan Types, Uncategorized, , , , , , , 2 Comments »

February 12th, 2010 condo building
February 12th, 2010

Private Mortgage Insurance Tougher To Get On Condos

Is Private Mortgage Insurance tougher to get on condos? I almost feel like there is no more PMI (Private Mortgage Insurance) on condos! But that is not true, there is PMI availability for condos, but it is getting harder to get. Most people know by now that PMI is needed on a Conventional loan if you have less than 20% down payment.

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Categories: Underwriting Rules, ,