Mortgage Insurance
The annual mortgage insurance premium is due to increase on the 18th April, by 0.25%. For loans whose LTV (loan to value) is 95% from 0.90% to 1.20% (assuming length of mortgage is more than 15 years). For those of you that don’t know, mortgage insurance or PMI, is designed to protect the lender if [...]
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Impending changes by the FHA (Federal Housing Authority) and HUD (Housing and Urban Development) could cost you thousands extra if you wait rather than taking the plunge and buy now. These changes which are due to take effect between the March 31st expiration of the Federal Reserve Board’s mortgage backed securities purchase program (this is [...]
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