Real Estate Info For Finance and MortagesBuy A Home With Less Money DownOwning a home is the “American Dream”. Sometimes housing prices keep those with little money for a down payment from owning a home. A low-to-no down payment mortgage may enable you to buy a home without waiting years. Click on the link above to read more.... Private Mortgage InsurancePrivate Mortgage Insurance (PMI) is required by many lenders when your home purchase downpayment is less than 20%. PMI is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. It allows a buyer to put down as little as 3 to 5% (and even less for qualified borrowers) instead of the 20% usually required by lenders, permitting a buyer to move in sooner and avoid years of saving up for a home. Most lenders generally require PMI for a loan with a loan-to-value (LTV) percentage in excess of 80 percent. An LTV percentage in excess of 80 percent means the buyer has put down less than 20%. Click on the link above to read more.... Plan Ahead For Your MortgageThere are a few financial tricks to know and traps to avoid when you are thinking about buying a house. Qualifying for a mortgage is far more difficult than qualifying for a credit card or a car loan. Although there are literally hundreds of different mortgage programs available, they are almost all based on the same qualification information - some combination of income, monthly expenses, and credit history. Planning ahead, in some cases as far as one year, can help many people avoid hassles. Click on the link above to read more.... Refinancing CautionWatch out for a new breed of mortgage lenders using telemarketing techniques. They offer to replace your current loan with something that sounds like a lower rate but is actually much more expensive when all is said and done. Click on the link above to read more.... Back To Real Estate Guide Menu Copyright Sizzling Studios. All rights reserved |