Sixty-five percent of home owners with private mortgage insurance (PMI) say that the additional cost has prompted them to pay a higher monthly mortgage payment than they had originally expected
Understanding The Real Costs Of Government-Insured Home Mortgages
March 17, 2014 by
There’s no shortage of options when it comes to financing your next personal home purchase. The list of potential options includes FHA, VA, USDA, and a myriad of other “low-down-payment” loans available. This category of loans is known as “government insured,” meaning that the lender can file an insurance claim through the appropriate government agency, (FHA, VA, etc), if the borrower defaults on the mortgage.
A Little? A Lot? Down Payments and Your House Payment
December 28, 2012 by
Your down payment represents the initial blood, sweat and tears that you put into your new home. It’s one of the factors lenders review when evaluating a mortgage application along with credit, income and job history. But how much is the ideal amount for a down payment?
