Tag: drop pmi

Battle of the Mortgages: FHA Loans vs. Conventional Loans

Compare FHA loans vs Conventional Loans

If you are a potential homebuyer you will soon face the Battle of the Loans between FHA and Conventional loans. There are key differences between the two loans that borrowers should take into account. Each has unique requirements and regulations that we will explore throughout the post, making it easier for borrowers to make a… Read more »

How to avoid or get rid of PMI

Private Mortgage Insurance (PMI) protects the lender in case you default on your loan. In most cases, unless you have a 20% down payment, you would have to pay PMI. But if that sounds like one more expense you can’t afford, here are some ways you can avoid PMI or get rid of it if… Read more »

How can I lower my monthly mortgage payments?

So, you’ve had a home for awhile, but you feel like your budget is just too tight. You scrimp and save, but it’s never enough. If the biggest expense you have is your mortgage, maybe it’s time to refinance your mortgage. Refinance to a lower rate Rates are very low. Right now, for a 30-year… Read more »

Mortgage Rates have Dropped to Recent Lows

Mortgage rates have dropped again officially hitting the lowest levels in one year which is near historic lows. According to the Freddie Mac weekly mortgage survey, rates are as low as 3.72% for a 30 year fixed rate mortgage and as low as 3.01% for a 15 year fixed rate mortgage. If you have been considering… Read more »