Mortgage Insurance Explained

Single Premium Mortgage Insurance

by Mortgage Nerd on September 11, 2012 · 0 comments

Mortgage insurance is something that you buy for the lender so that they will give you a mortgage in the form of a conventional loan with less than a 20% down payment. I like to think of it as a necessary evil. Most people that have done a little research on getting a mortgage know […]

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Mortgage insurance, unlike home owners insurance, is a necessary evil for most mortgage programs when you have less than 20% equity or down payment. It’s true that some lenders, that don’t work with Fannie Mae or Freddie Mac, don’t require any mortgage insurance but those lenders usually offer higher interest rates to compensate. If you […]

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If you are like most home owners you hate the idea of your hard earned money going down the drain with monthly mortgage insurance payments.¬†And with so many homeowners defaulting on their mortgage payments over the last few years (google “housing crisis 2008 to 2011“) private mortgage insurance companies, and FHA alike, have raised their […]

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