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When Should You Seek an Appraisal to Eliminate PMI?

East Coast Appraisal

Private mortgage insurance, or PMI, allows lenders to offer home loans to buyers without the traditional 20 percent down payment. This insurance covers the risk of financing a mortgage with less equity from the buyer. You may need to hit an even lower loan-to-value ratio for several years after signing. contact us.

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The Pros and Cons of Buying a House

PennyMac

Typically a long term investment. Rental insurance is inexpensive. Cash-Out Refinancing is a popular way to get cash for just about anything—renovations, the purchase of a second home, or other long-term investments for your future. Renters insurance is far cheaper than homeowners insurance.

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Do You Need 20% Down To Buy A Home?

PennyMac

Conventional loans, the most common mortgage type, require Private Mortgage Insurance (PMI) with a down payment of less than 20%. However your PMI can be removed (by request) once you’ve hit a 78% loan-to-value ratio in some cases. Here are four loan options that can help your down payment dollars go further.

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The REO Guide: 10 Steps to Buying a Bank-Owned Home

PennyMac

Some homebuyers are intimidated by foreclosed and bank-owned homes because they often require more renovations — and a different type of negotiation — than other options on the market. Whether you’re buying the home to live in or as an investment, these 10 steps should help set you up for success with bank-owned properties.

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What Happens to My Mortgage If I Move?

Assurance Financial

When your mortgage payments are gone, you could contribute that money into your emergency fund, retirement account or other investments, or save up for that vacation you always planned. Depending on your timeframe and your other investment opportunities, you may decide to keep that cash and set it aside for a new down payment.

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Expert Home Security Tips and Tricks

PennyMac

Purchasing, updating, and decorating your home was a big investment. These systems often require an initial up-front investment, but the benefits of peace of mind are priceless. Plus, adding monitored safety and security devices can often help homeowners dramatically lower their home insurance premiums.

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The Mortgage Loan Process: How To Get A Mortgage In 9 Steps

Quicken Loans

Recent statements from your investment portfolio, including retirement, stock and bonds accounts. Verification of other outstanding debts, such as auto loans or student loans. You can also add the cost of taxes and insurance if you know what they’re likely to be.). Receipt of gifted funds. Start House Hunting.