Posts Tagged ‘down payment’

If you recently applied for a mortgage loan and it was turned down, it can be difficult to pinpoint why and the lender may not disclose all of the reasons. There could be a single reason why you weren’t approved, or it can be due to multiple reasons. The following are some of the more […]

  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 […]

Lenders look at many different things when determining what your mortgage rate will be, and not all homebuyers are eligible for the low-priced offers they may see when they initially apply. If you received a high mortgage rate, the following are some potential influencing factors: Credit rating When it comes to large loans like a […]

Buying a home, especially for the first time, can be an exciting milestone. At the same time, it can be an overwhelming process. Our first time homebuyer’s guide can help point you in the right direction if you’re unsure of where to begin. Save up for a down payment Once you make the decision to […]