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[11 Sep 2011 | 2 Comments | 4,225 views]
What is private mortgage insurance?

A lot of factors go into calculating a mortgage payment, but one over which a homebuyer has a lot of control is the amount paid toward private mortgage insurance (PMI).
What, exactly, is PMI?
Simply put, it is insurance which helps protect the lender should the buyer go into default. The idea is that money raised through PMI premiums will cover the lender’s losses should the institution have to take back a home and sell it.
Buyers can’t do a lot about how much they pay on interest and principal every month or, …

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[29 Aug 2010 | No Comment | 1,143 views]
How to prevent delays when applying for a mortgage

When you go to take out a mortgage, the last thing you want to deal with is a bunch of delays.
Actually, the last thing you want to deal with is having your mortgage application turned down, but that goes without saying. The truth of the matter is mortgage bankers still have plenty of money to lend, but there are certain regulatory hurdles – both put in place by the industry and the federal government – that must be cleared before a loan is approved.
It’s in the borrower’s best interest, then, …