What Is PMI and Do I Have to Have It?

Alright, you have selected the house you want to buy, found a mortgage lender to meet your financing needs and they have presented you with a rate quote that looks pretty enticing. You love the offer, and your dream of homeownership is coming to close but there’s just one thing. You notice an extra charge… Continue Reading

Private Mortgage Insurance (PMI) FAQ

Are you buying a house and putting down less than 20%? Are you refinancing but have less than 20% equity? Whether you’re buying or refinancing, are you getting a conventional loan? Then you will need PMI. What is PMI? PMI stands for Private Mortgage Insurance. It protects the lender from losing financially if you default… Continue Reading

6 Good Reasons to Refinance Your Mortgage

The news is abuzz with the quarter percent interest increase that came from the Federal Reserve back in mid December, causing all sorts of panic and riots in the street. Well, maybe not riots — but a lot of people are wondering if they need to refinance now or if they’ve already missed their opportunity.… Continue Reading

Guide to Refinancing Your Mortgage

Interest rates are constantly in the news: they’re rising, they’re falling, they’re flat — whatever they’re doing, they keep the thought of refinancing in the forefront of the minds of many homeowners. These folks wonder if they should refinance now, or if they’d be better off to wait a little while longer. Choosing to refinance… Continue Reading

Mortgage Insurance vs. Secondary Mortgages

After another rise in FHA mortgage insurance rates during the last year and the announcement that borrowers may be locked into those payments for the life of their loans, a lot of people are taking a second look at second mortgages. Piggyback seconds, those small mortgages used in conjunction with a Conventional mortgage at the… Continue Reading