Tag Archive for: mortgage insurance

Study Shows Mortgage Insurance Lessens Difficulty In Obtaining Down Payment

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California’s increasingly competitive market has made property prices soar. With the high price tag associated with California real estate, many homebuyers are increasingly concerned about how they will afford a down payment on a home.Read More

52% of Homebuyers In California & Nationwide Have Down Payments Less Than 20%

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FHA loans are an excellent option for California homebuyers who are in the market to purchase a property but are lacking the funds for a 20% down payment.Read More

First-Time Homebuyers Should Consider FHA Loans in California

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Federal Housing Administration (FHA) loans are an excellent option for California first-time homebuyers looking to buy in the competitive California market. FHA loans in California have low down-payment financing options with flexible underwriting guidelines that are great for homebuyers with liquidity or credit issues.Read More

Insurance & Mortgages; What Is Required? What’s It For?

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There is often confusion in regard to all of the insurance that borrowers either should have, or are required to have, when they finance a home. Here is a brief […]Read More

The Loan-to-Value (LTV) Ratio: A Guide for Borrowers in California

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The Loan-to-Value Ratio (LTV) is a mortgage term homebuyer and homeowners should become familiar with if they plan to apply for a home loan. Mortgage lenders will mention LTV often while explaining the mortgage qualification process and different loan products. Today we’re giving a crash course in LTV and explaining the impact LTV has on purchasing and owning a home.Read More

Do First-Time Homebuyers Need Mortgage Insurance in California?

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Mortgage Insurance (MI) can set off alarm bells for first-time homebuyers. Homebuyers are not automatically required to pay for mortgage insurance just because they are first-time homebuyers. MI requirements can vary between loan amounts and loan programs.Read More

Why Lender-Paid Mortgage Insurance Isn’t Such a Good Deal

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We are seeing borrowers come to us with quotes from online lenders for conventional loans with LTV > 80% but NO mortgage insurance. What the borrowers don’t realize is they […]Read More

How to Eliminate Private Mortgage Insurance or PMI

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Here are three options for eliminating the private mortgage insurance (PMI) obligation associated with a conventional loan (FHA MI is permanent). Option #1 – Refinancing: If your property appreciates to […]Read More

The Case for Private Mortgage Insurance; PMI Is a Great Option Now

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Private Mortgage Insurance (PMI) for buyers with less than 20% down has been much maligned for all too long. PMI is now, however, so much more competitive that it is […]Read More

Arch Mtg Ins; MUCH Cheaper; Algorithms

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Today’s Blog is about Private Mortgage Insurance, normally a boring subject, but now fascinating for a few reasons. First, Arch MI is now available for strong borrowers as a fantastic […]Read More

95% LTV With No PMI? LPMI Not A Good Deal.

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Many lenders are again touting their 5% or 10% down loans with no private mortgage insurance (PMI). Almost all lenders (including JVM) offer this through a product called Lender Paid […]Read More

Jan. 26: Big Day – FHA MI Drops; CU Appraisal Rule In Effect

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January 26th, 2015 is a big day in the mortgage industry. 1. FHA “monthly” MI is lower (down to 0.85% for most loans) for all case numbers ordered from today […]Read More

FHA to Reduce Annual MI by 0.50% – 0.85% in Most Cases

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President Obama is announcing a proposed reduction in FHA Mortgage Insurance today. Currently, most FHA Loans (with 3.5% down) have Annual Mortgage Insurance Premiums of 1.35%. The Obama Administration wants […]Read More

Lender Credits For Closing Costs Again – Effect on Payment?

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Yesterday, we recommended Lender Credits for closing costs for borrowers who are tight on cash. We pointed out how such credits result in higher rates, but we failed to mention […]Read More