If you’ve been paying PMI or have been offered a loan contingent on you buying PMI, it’s time to take a look under the hood to understand what it is and what you get. What is PMI? PMI stands for private mortgage insurance. This is insurance you pay for but actually benefits the financial institution […]
Getting a Mortgage with Bad Credit
You can get a mortgage even if you have bad credit. As you will see, that really isn’t a problem. But before we even start down this path, I need to be blunt. If you have bad credit as a result of past mistakes which you have since cleaned up – great. This post could help […]
15-Year Loan – Not Always A Good Idea
When you mosey on down to the bank to get a mortgage or refinance, you’ll be offered a number of loan alternatives. The main two are a 30-year mortgage or a 15-year mortgage. The 30-year loan has the highest interest rate because it presents the lender with the most risk – they are on the […]