Mortgage Insurance
Gifts and Grants can be considered towards borrowers funds on certain 3% down conventional loans
March 14, 2011 by financemyhome1 · Leave a Comment
Yes, you read that right. I just got an email today from a leading mortgage insurance company that is willing to underwrite this loan. You will need at 740 or better score. But, what an opportunity. In many ways, this is like FHA, but with a little higher credit threshold. The KEY difference, besides credit score, is the lack of an upfront MI (mortgage insurance) premium and as well as a smaller required monthly premium. This product could be a game changer for the MI company and conventional loans.
Mortgage Insurance
Mortgage Insurance May Still Be Deductible For Some Buyers
January 6, 2011 by financemyhome1 · Leave a Comment
Yipee-It looks like mortgage insurance will remain deductible for some home buyers. When we look buying a home, you need to consider all aspects. One main one is mortgage financing. There are ways around mortgage insurance by doing split loans-like and 80/10/10 for example or LPMI-which stands for lender paid mortgage insurance-which means the interest rate is higher. Rather than confuse the matter with all the options-some of which may have no bearing on your situation-just give me a call. I would be happy to help you do an analysis so you can make the right choice. Click the link below to read the latest news about MI(mortgage insurance)
http://www.mortgageinsurance.genworth.com/pdfs/Marketing/MITaxDeduct-Consumer.pdf
