Home Buying · Private Mortgage Insurance

What Is Private Mortgage Insurance?

January 25, 2019

Private mortgage insurance, also known as PMI, is a type of mortgage insurance common with conventional loans. It’s intended to protect the lender if you stop making your loan payments, […]

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Conventional Loans · FHA Loans · Home Buying · News · Private Mortgage Insurance

Piggyback 80 10 10 Loans Will Save You Money in 2019

January 16, 2017

80 10 10 Loans for Today’s Home Buyer An 80 10 10 loan is a mortgage option in which a home buyer receives a first and second mortgage simultaneously, covering 90% of […]

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Conventional Loans · Private Mortgage Insurance

How to Avoid Paying PMI

August 30, 2016

Mortgage insurance is an added expense homeowners pay to help protect lenders. If you don’t put 20 percent down on a conventional loan or if you choose an FHA or […]

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Ask Tim · Conventional Loans · FHA Loans · Private Mortgage Insurance

What is the Difference Between an FHA and Conventional Loan in Cost and Benefits?

July 6, 2016

Q: I have good credit of about 730. I meet the requirements for both FHA and Conventional 97. I plan to live in the home for 6+ years. Which has […]

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Conventional Loans · FHA Loans · Private Mortgage Insurance · Refinance

Cancel your FHA Mortgage Insurance Today

May 7, 2015

An FHA loan sounded like a good idea at the time. Now, not so much. That’s what many FHA home buyers are saying. The reason: high mortgage insurance premiums, month […]

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Home Buying · News · Private Mortgage Insurance

Lender-Paid Mortgage Insurance (LPMI): Why It Can Pay Off in Today’s Market

February 4, 2015

If you don’t have 20 percent down to buy a house these days, you will be paying mortgage insurance of some kind. Mortgage insurance just helps the lender have reassurance […]

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Conventional Loans · FHA Loans · Home Buying · Private Mortgage Insurance · USDA Home Loans · VA Home Loans

5 Ways to Buy a Home with 5% Down or Less

April 23, 2014

One of the most common misconceptions about mortgages is that you need 20% down to buy a home. Nothing could be further from the truth. The fact is that there […]

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Conventional Loans · FHA Loans · Home Buying · Private Mortgage Insurance

PMI Becomes Easier, FHA More Costly

October 10, 2013

One of the first questions home buyers ask themselves when considering how to finance their upcoming home purchase is whether to use an FHA loan or a conventional loan with […]

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FHA Loans · News · Private Mortgage Insurance

FHA Applications Plummet in June 2013

September 27, 2013

The U.S. Department of Housing and Urban Development, or HUD, recently released its monthly production report for June 2013 for mortgages underwritten to FHA guidelines. Each month, this report tallies FHA […]

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Conventional Loans · FHA Loans · Home Buying · Private Mortgage Insurance

When Lender Paid Mortgage Insurance Makes Sense

March 21, 2013

More and more borrowers today are looking for ways to finance their home purchase without making a full 20% down payment. As FHA continues to increase fees, many are turning […]

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  Mortgage expert Tim Lucas has been helping home owners for over 12 years.

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