Posts Tagged ‘pmi’

For most homeowners, their mortgage loan payment is the largest bill they’ll have coming in every month. Because traditional mortgage loans will also usually mean 30 years of monthly mortgage loan payments, it can be difficult to anticipate how life will change. What may have once been affordable may no longer be the case—for example, […]

There are so many great things about becoming a homeowner, but have you also considered the tax benefits? Whether you already own your home, or you’re just in the beginning stages of the house hunting process, you may be eligible to deduct the following when tax season rolls around: Interest If you’re taking out a […]

  Although the surefire way to eliminate PMI from the beginning is to put down 20 percent, there are some other ways you can get out of this extra cost, whether initially or later on during your mortgage term: Refinance the mortgage If you’re paying a lot each month in PMI and interest, you could […]

There are several different costs that make up a monthly mortgage payment, and for many homeowners, one of those costs is private mortgage insurance (PMI). PMI was designed to protect lenders should the borrower default on their mortgage payments, and borrowers who put less than 20 percent down on their home purchase will usually have […]