FHA loans are still the most popular financing option when obtaining a home loan, so we decided to share this info-graphic that better explains the new changes concerning FHA loan regulations. Keep in mind, one of the most important changes is the fact that PMI (Private Mortgage Insurance) will have to be paid for the entire life of the loan.
How to Benefit from Private Mortgage Insurance
photo: mortgagemodificationprogram Purchase of a home usually means that you make the payment of at least 20% of the price of the house initially and the rest paid periodically. When you consider the fact that a single family house is sold for not less than $200,000, you should have saved some $40,000. This may not…
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How Much Is Private Mortgage Insurance (PMI)? 3 Options to Pay the Cost
How much is private mortgage insurance (PMI)? It's a question that often comes up when you're purchasing a home or refinancing.