This Article Is About How Private Mortgage Insurance On Home Loans Work: Private mortgage insurance on home loans also referred to PMI, is paid by the borrower to benefit lenders. PMI is a mortgage insurance program that is created to protect lenders from default and loss from borrowers defaulting on conventional loans. Lenders require any […]
This Article Is About 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 […]
This article covers Understanding PMI On Purchase And Refinance Mortgages Understanding PMI is very important for both homeowners or homeowners refinancing their current home loan. Private mortgage insurance is often referred to as PMI Private mortgage insurance is paid for by the borrowers to benefit the lender HUD, the parent of FHA, requires mandatory FHA […]
This BLOG On How To Cancel PMI On Conventional Loans For Homeowners Was PUBLISHED On November 8th, 2019 Mortgage Insurance is required on FHA Loans, USDA Loans, and Conforming Loans with less than 20% equity. There are two types of mortgage insurance: Upfront mortgage insurance Annual mortgage insurance In this article, we will cover and […]
This ARTICLE Is About On Avoiding Paying PMI On Mortgage Loans By Homeowners Avoiding Paying PMI On Mortgage Loans By Homeowners can be done. A large percentage of our borrowers at Gustan Cho Associates are homeowners who want to save money by Avoiding Paying PMI by refinancing FHA and Conventional Loans are the two most […]
This ARTICLE On What Is PMI On Government And Conventional Loans Was UPDATED And PUBLISHED On July 22nd, 2019 What Is PMI? One of the most common questions I often get asked by my borrowers is what is PMI? There are two types of mortgage insurance Mortgage insurance premium and private mortgage insurance (PMI) Mortgage Insurance […]
This BLOG On Private Mortgage Insurance On Conventional Loans Was UPDATED On April 14th, 2019 Private mortgage insurance on conventional loans is required for conventional mortgage loan borrowers who put less than a 20% down payment on their home purchase. Unlike FHA Loans where the annual mortgage insurance premium is 0.85% of the loan balance, conventional […]
This BLOG On Chicago Mortgage Lenders Requiring Private Mortgage Insurance Was UPDATED On October 25th, 2018 Homeowners (or soon-to-be) may have wondered what private mortgage insurance is. Look no further than the advice of Chicago mortgage lenders like Gustan Cho Associates. This blog is a great resource for educating homeowners on the facts and necessary […]
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