PMI - Articles

How to Reduce Your Mortgage Insurance Payment

By Scott Sheldon Mortgage insurance is the dreaded premium on a mortgage payment that consumers hate, and for good reason. It makes the cost of homeownership rise over time, benefiting one group: the investor that owns the loan. Mortgage insurance, also known as private mortgage insurance, or PMI, is an integral part of... Continue Reading »

FHA Mortgage Will Cost More

FHA annual mortgage insurance premiums will match those of private mortgage insurance companies starting today for all new FHA loans. The annual premium will rise from 0.55 percent to 0.9 percent, which is the same as most private mortgage insurance for loans between 95 percent and 97 percent down. The good news is that... Continue Reading »

Mortgage Closing Fees Surge: How to Keep Yours Low

A recent report suggests closing costs on mortgages are skyrocketing, with direct bank fees up nearly 23 percent and third-party fees up more than 47 percent. First, the sort-of good news. The survey isn't measuring actual fees levied on completed mortgages; instead it measures the so-called good-faith estimates of fees... Continue Reading »

#fivemin-widget-blogsmith-0 {width:600px;height:400px;background:black url( no-repeat center center;float:left;display:block;} The need for more space was what got Kim and Jason Fitzsimmons thinking about buying their first home. They'd been married for a year... Continue Reading »

First-Time Homebuyer's Guide

Mike Valdez fits the profile of a savvy first-time homebuyer perfectly. A 34-year-old financial analyst from New Rochelle, N.Y., he and his family had grown sick of living the renter's life. So two years ago he decided to test the market and find a townhouse for his growing family. But despite his financial aptitude, he... Continue Reading »

Four Ways to Benefit From a Cash-In Refinance

Gone are the days when homeowners "cashed out" on the equity of their homes through a mortgage refinance, and used the money to pay off other bills, renovate a kitchen, or jet to Bora Bora. Stringent, post-housing-boom lending policies mean a gain in popularity for the complete opposite of the cash-out refi -- the... Continue Reading »

Mortgage Insurance Returns: Is It Right for You?

Private mortgage insurance was all the rage when housing prices were high and down payments were tiny. But ever since the housing bubble burst, people seeking to buy a home with less than 20 percent down -- especially in declining markets such as Arizona, California, Florida, Michigan and Nevada -- had nowhere to turn for... Continue Reading »

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