Peter Miller

Peter G. Miller, author of The Common Sense Mortgage, is a real estate columnist syndicated in newspapers nationwide. Peter has been featured on Oprah, the Today Show, Money Magazine, CNN and more. Follow Peter on Twitter

Articles by Peter Miller

Q&A

Mortgage Life Insurance or Private Mortgage Insurance – Which is Better?

November 15, 2022

Question: What is “mortgage life insurance” and why do I need it when I already have private mortgage insurance? Answer: Private mortgage insurance and mortgage life insurance are two very […]

What does it mean if my mortgage is sold

Understanding Mortgages

My Mortgage Has Been Sold. Am I In Trouble?

August 11, 2022

Question: We received a letter from our lender saying our mortgage has been sold to someone else. Have we done something wrong? Is there some kind of problem here? Answer: […]

father-and-daughters-sitting-in-back-of-car-outside-house

Q&A

Should You Buy or Lease a Car Before Applying For a Mortgage?

July 24, 2022

The typical new car loan costs $648 per month, while the average new lease costs $522 per month, according to an Experian report from the first quarter of 2022. Since […]

Refinance

Fannie Mae High Loan-to-Value Refinance Option (HIRO) Guidelines for 2023

September 1, 2021

Editor’s Note: HIRO is temporarily paused due to volume. But you may be eligible to refinance with another program. Speak with a mortgage expert to understand your options. The Fannie […]

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Refinance

Freddie Mac Enhanced Relief Refinance (FMERR) Guidelines for 2023

March 26, 2021

What is FMERR? If you’ve never heard of a Freddie Mac Enhanced Relief Refinance — a “FMERR” loan — you’re not alone. Available to homeowners since the beginning of the […]

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Niche Mortgage Products · Q&A

Can You Get A 40-year Mortgage?

October 28, 2019

Longer term financing is still available, despite falling out of favor after the housing crash 10 years ago. But, finding a lender that offers a 40-year mortgage lender can be […]

Q&A

What Do Lenders Count As Mortgage Income?

October 15, 2018

Question: What is mortgage income? I want to apply for a mortgage but worry that much of my income will not be counted. I receive child support plus much of my […]

What the difference between mortgage rates and apr?

Q&A

Mortgage Interest Rates Versus The Mysterious APR

October 1, 2018

Question: I want to get a mortgage. Interest rates I understand but what is an APR and why is it higher than the interest rate? Answer: When you buy something […]

Q&A

Is Cash-out Refinancing A Good Idea With Higher Rates?

September 24, 2018

Question: We want cash-out refinancing. The value of our home has increased significantly in the past five years. We want to now get a cash-out refinance but worry that rising mortgage […]

Q&A

Why Has My Credit Score Gone Up?

September 5, 2018

Question: My credit score has gone up significantly during the past year even though my debts and monthly payments have largely stayed the same. Are the new numbers real or […]