What Is PMI?

SIX THINGS NOT TO DO WHEN APPLYING FOR A MORTGAGE

by admin | | Education, fanniemae, First-Time-Homebuyer, Mortgage, Refinance | 0 Comments

Do not make major purchases like furniture, appliances, jewelry, vehicles or vacations. Don’t change or quit your job. Consult with your mortgage professional before withdrawing, depositing or moving large amounts of money in or out of your bank account. Do not pay...

WHY WASTE MONEY ON RENT WHEN YOU CAN AFFORD TO BUY?

by admin | | Buying, First-Time-Homebuyer, ready-to-buy | 0 Comments

Discover the freedom and stability of home ownership today! Whether you're dreaming of a cozy cottage or a chic urban apartment, your perfect place is closer than you think. Start building equity and secure your financial future. Let's turn those rent payments into...

Buy Rental Property in Massachusetts

by admin | | First-Time-Homebuyer, Rental-Massachusetts | 0 Comments

Investing in a rental? Get qualified based on expected monthly rental income.

First-Time Homebuyer Options

by admin | | First-Time-Homebuyer | 0 Comments

How Do I Get a First-Time Homebuyer Loan?

What Do You Look For When Buying Your First Home?

by admin | | First-Time-Homebuyer | 0 Comments

What Is PMI?

Private mortgage insurance (PMI) is required on conventional loans where the loan amount is greater than 80% of the property value or purchase price

Borrower-paid mortgage insurance (BPMI) is a pre-determined premium amount added to your monthly mortgage payment

* Lender-paid mortgage insurance (LPMI) allows borrowers to waive the monthly premium amount. The overall monthly payment is typically less than a loan with BPMI, even with a slightly higher interest rate.

* For conventional loans, the PMI may be eliminated once a minimum of 20% equity has been established

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