Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

  • 4 Advantages of Choosing Single-Family Housing

    In the market to purchase your own residence? Perhaps you're tired of throwing your money into a monthly rental payment when you could be building equity in your real estate. As you begin exploring your options for residential real estate, you'll be faced with an important decision: is a single-family home or multi-family unit the right choice for you? Consider exploring some of the main benefits of single-family housing before you get started so you can make an educated decision.

  • Two Common Mistakes Budding Real Estate Developers Should Avoid Making

    Many budding real estate developers get their first foot on the ladder by buying a derelict property and carrying out extensive renovation. However, there are a few common mistakes that developers make when tackling this project. Specifically, there are two traps commonly encountered: Not Taking Enough Time The design of the property is the first thing prospective buyers will notice, so it's important to take time during this process. A complete redesign of a neglected property can turn a derelict site into a high value home, so make sure that you allocate sufficient time to get this process done correctly.

  • 3 Questions You Should Ask Before Buying A House

    Buying a house is an important decision. The place where you live, raise your children, and invest all of that money shouldn't be a decision that you make lightly. Instead, there are many questions you should ask yourself before purchasing a home. Here are some things to think about. Is The Neighborhood As Good As The Home? A mistake that many first-time home buyers make is that they don't think about the neighborhood—they only care about the house.

  • Can You Get A Mortgage If You Don't Have A Credit Score?

    It's advice you've probably heard all the time if you're thinking of buying a home: start working on improving your credit score so you can get a mortgage. But what if you don't have a credit score? Do you have any hope of getting a mortgage if your credit score is zero or non-existent because you've simply never taken on debt in the past? The answer is "yes." Getting a mortgage with no credit score takes some planning, and you may have to wade through some extra red tape — but it is possible.

  • Looking For A Deal For Your First Home? Target Your Search In These Areas

    First-time home buyers may not be able to buy their dream home just yet, but that shouldn't deter them from getting started in the journey of real estate ownership. If you're looking for a house for sale and want to ensure that it's as affordable as possible, there are a variety of ideas to consider. One idea is to find a place that needs fixing up, but if you're already short on cash, fixing up your home may be a challenge.

  • About Me

    Do You Need Private Mortgage Insurance?

    Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.