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ByAnngelli Abenes
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Breaking News: Lower FHA Mortgage Insurance Premiums in 2024—What It Means for Your Mortgage Are you thinking about buying a home or refinancing your current mortgage? If so, you’ve likely heard about FHA loans. These loans are popular because they allow lower down payments, making it easier for first-time buyers to own a home. But…
ByAlex Carlucci
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This guide covers what is PMI on conventional loans. What Is PMI? One of the most common questions I often get asked by my borrowers is what is PMI or private mortgage insurance. There are two types of mortgage insurance: Mortgage insurance premium and private mortgage insurance (PMI). Mortgage Insurance Premium is for FHA Loans….
ByGustan Cho
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This guide covers the 97 LTV conventional loan mortgage guidelines for first-time homebuyers. Fannie Mae and Freddie Mac 97 LTV conventional loan program is back: Fannie Mae and Freddie Mac have just released news that they will bring the 97 LTV conventional loan program back. The 97 LTV conventional loan program enables qualified home buyers…
ByGustan Cho
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This guide covers FHA MIP versus conventional PMI for mortgage borrowers. Mortgage Insurance is mandatory on all FHA loans and Conventional loans with less than 20% equity. There are pros and cons of FHA MIP versus Conventional PMI. In this article, we will discuss the pros and cons on FHA MIP versus conventional PMI for…
ByGustan Cho
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This guide covers PMI on Conventional loans with higher than 80% LTV. PMI on Conventional loans with higher than 80% LTV is mandatory per Fannie Mae and Freddie Mac Guidelines. Private Mortgage Insurance protects mortgage lenders in the event borrowers go into default and the home goes into foreclosure. Private Mortgage Insurance is Fannie Mae…
ByGustan Cho
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This guide covers eliminating FHA mortgage insurance premium by refinancing FNMA. Borrowers taking out an FHA insurance mortgage loan, besides paying an upfront mortgage insurance premium of 1.75%, borrowers need to pay an annual FHA mortgage insurance premium of 0.55% for the life of the FHA Loan. FHA mortgage insurance premium can be a substantial…
ByAlex Carlucci
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Homeowners With FHA Loans Should Consider A Conventional Refinance Loan While Mortgage Rates Are At Historic Lows And Avoid Paying FHA MIP. Mortgage rates are at historic lows and many home values have skyrocketed in the past several years. Many homeowners with FHA loans can benefit by refinancing to a conventional mortgage and avoid paying LPMI.
ByGustan Cho
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This guide covers how to cancel PMI on conventional loans for homeowners. Mortgage insurance is required on FHA, USDA, and conforming loans with less than 20% equity. There are two types of mortgage insurance: Upfront mortgage insurance and annual mortgage insurance. Private Mortgage Insurance (PMI) is typically required for conventional loans when the borrower’s down…
ByGustan Cho
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This guide covers the first payment after closing for mortgage loan borrowers. One of the most common questions new homebuyers ask is when the first payment after closing. Other homeowners tell many that it will be a while before they make the first payment after closing on the new home. The first payment on a…
ByPeter Arcuri
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This guide covers buying home with no private mortgage insurance with 80-10-10 mortgage loans. Any conventional mortgage loan with less than 20% down payment, or equity in the home, requires mandatory private mortgage insurance. Homebuyers who have at least a 10% down payment towards a home purchase and want to eliminate paying for private mortgage…
ByGustan Cho
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In this guide, we will cover what is lender-paid mortgage insurance on conventional loans. Lender-paid mortgage insurance is also referred to as LPMI. Lender-paid mortgage insurance applies to Conventional loans only. Private Mortgage Insurance is required for all Conventional loans with less than a 20% down payment. This blog will cover the answer to what is…
ByCharlotte Hopper
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In this guide, we will cover being prepared for hurricanes in Florida. Homeowners and renters in Florida’s biggest fear is the devastation hurricanes can cause. We are ensuring Safety and Security. Hurricane season has just started! Living in Florida means being mindful of the potential impact of hurricanes, which are a recurring natural phenomenon. The…
ByAlex Carlucci
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This BLOG On Understanding Insurance Protection For Consumers And Homeowners Was UPDATED And PUBLISHED On March 9th, 2020 Good morning open enrollment blog for day 1 of the open enrollment period to purchase health insurance. Avoid high out of pocket cost and medical bills by shopping for health insurance with multiple carriers Get fully covered,…
ByGustan Cho
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This BLOG On FHA Lowers Mortgage Insurance Premium Was UPDATED On November 24th, 2018 This blog is a rewrite and updated blog from January 2017: FHA Lowers Mortgage Insurance Premium by 0.25 basis points. This announcement came from HUD that for 2017, FHA Lowers Mortgage Insurance Premium This is great news for home buyers and those…
ByMike Gracz
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This BLOG On Insurance Claim By Policyholders Often Yields An Increase Of Premium Was UPDATED On October 23rd, 2018 If I have a claim will my insurance premium skyrocket? Well that is a trick question On the average I would say, yes Let me talk to those whose premiums will go up and have gone up…
ByAlex Carlucci
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This BLOG On Health Care Insurance Open Enrollment For Consumers Was UPDATED On October 23rd, 2018 Open enrollment for health care insurance begins on November 1st for the next plan year. With tens of thousands of plans available, finding the right coverage that best fits your needs and budget can be often overwhelming Sometimes people just…
ByAlex Carlucci
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This BLOG On Loss Of Income Insurance And Its Benefits For Homeowners Was UPDATED On October 22nd, 2018 Loss Of Income Insurance? To protect wealth and grow wealth is my job and desire as an insurance broker/agent and wealth manager Question- can you protect wealth without a savings account that is increasing? Can you protect wealth…
ByAlex Carlucci
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This BLOG On Travel Insurance Frequently Asked Questions By Consumers Was UPDATED On October 19th, 2018 A Little TIDBIT About “Travel Insurance” So, here we are again, another summer season around the corner and you’re contemplating your next summer vacation with the family or perhaps simply a romantic getaway, with just you and your significant other….
ByAlex Carlucci
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In this article, we will discuss and cover the Types of Insurance For Different Kinds of Athletes. From the time they begin playing their simple soft pitch game, to their college game of football, kids get engaged in different sports. Trophies are won, teamwork is learned, and at times, injuries are also sustained. The potential…
ByGustan Cho
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This ARTICLE On Refinancing With FHA Mortgage Insurance Premium Reduction Homeowners who have purchased their homes in the past six or more months should definitely consider refinancing their current home loan: This is due to mortgage rates being at a 20 month low All mortgage rates across the board, FHA loan, VA loan, USDA loan,…
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