How to: Lower Monthly Insurance Premiums

Are you tired of paying an extra $50 a month in mortgage insurance? You’re not alone. The average homeowner pays about $500 every year for MIP — and over the course of their loan life? That means thousands and thousands extra out of pocket. Fortunately, mortgage insurance premiums (or MIP) aren’t permanent. There are several [...]

By |2018-06-26T04:45:18+00:00June 7th, 2018|Categories: Mortgage|Tags: , , , |

What Is PMI?

Maybe you’ve heard the term thrown around by your lender or loan officer, you’ve spotted a “PMI” line item on your closing disclosure, or you’re seeing “PMI” on your escrow statements. Whatever the reason, you want to know: what is this PMI and why am I being forced to pay it? For most people, PMI [...]

By |2018-06-26T01:54:17+00:00February 20th, 2018|Categories: Mortgage|Tags: , |

Tired of Paying PMI? Here’s How to Get Rid of it

If you have an FHA loan or put less than 20 percent down when you bought your home, you’re probably stuck with PMI, or Private Mortgage Insurance. PMI is paid monthly as part of your mortgage payment, but unlike your balance and interest, it doesn’t decline over time. You pay the same for mortgage insurance [...]

By |2018-06-08T05:43:11+00:00November 20th, 2017|Categories: Advice, Financial, Mortgage|Tags: |

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