Buyers Download Insurance Loan Officers 
Assurance Financial
NOVEMBER 9, 2021
In some cases, you may have to take out several loans or pay for something called private mortgage insurance (PMI). Read on to learn more about how private mortgage insurance can allow you to purchase a home, even if you don’t have enough resources to make a standard down payment. What Is Mortgage Insurance on a Home Loan?
Assurance Financial
APRIL 29, 2021
Earnest money is a portion of the sale price of the home that a buyer pays upfront, after the seller accepts their offer. The deposit shows that a buyer is serious and allows the seller to take the home off the market. If the buyer backs out of the sale, the seller gets to keep the earnest money. Homeowners Insurance.
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Assurance Financial
APRIL 29, 2021
You’d also have to make private mortgage insurance payments on the loan until you’d paid off 20% of its value. Your equity would jump to $25,000 if you made a down payment of 10%, and your monthly private mortgage insurance payments would drop. Downloadable Guides. Make Larger Mortgage Payments.
Assurance Financial
DECEMBER 20, 2021
To pay for the rest of the mortgage, the closing manager sets up an escrow account into which the buyer will deposit their payment. In a short sale, the buyer purchases the home for less than the seller’s debt against the property. Waiting for the right buyer while paying for two properties can be a lot to handle.
Assurance Financial
JULY 27, 2021
You need to repay the mortgage according to the terms of the loan. Most mortgages require you to make monthly payments of principal, interest and other fees, such as private mortgage insurance (PMI). How long you need to pay for insurance depends on how long it takes you to pay off at least 20% of the home’s value.
Assurance Financial
JULY 23, 2021
The exact amount you need to save up for a down payment depends on the type of loan you choose, the market conditions and your financial situation. That might be true, as putting down 20% allows you to avoid paying private mortgage insurance (PMI) premiums and can mean you get a better interest rate on your loan.
Assurance Financial
SEPTEMBER 28, 2021
Be sure to also check whether your loan has a prepayment penalty before using this strategy! Refinance to a Shorter Loan. Even so, there are other good reasons to consider refinancing , such as consolidating debt, taking out cash on your home, or paying off private mortgage insurance. Downloadable Guides. Refinance Guide.
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