Pmi Articles

Posted on February 14   By MLP Blog
What types of Mortgage Insurance programs are out there? Each homebuyer is unique, and purchasing mortgage insurance is no longer a cookie-cutter, one-size-fits all industry. From buyers that are cash-strapped to those looking to trade up, there are several mortgage insurance programs to consider. The Finance Single Premium Option—With this option, you pay the insurance during the closing with one payment. Simply put, you’re financing some of the mortgage insurance .... Read More...
Posted on February 14   By MLP Blog
Split Premium Insurance—In this option, the borrower purchases a portion of the insurance by either paying out of pocket or financing, and then pays a smaller amount on the monthly premium. Some find this option attractive because it offers flexibility for the homebuyer and the lender. Mortgage payments may even be lower because the premium can be paid by a third party or at closing. Borrowers may also benefit from a split premium tax write-off. Stan.... Read More...
Posted on April 30   By Justin McHood
The general idea behind insurance of any kind goes something like this: You pay money in exchange for a promise for money if something happens. Mortgage insurance is no different -- except, in the case of mortgage insurance, you are not the one who actually gets the money if something happens. The idea behind mortgage insurance is relatively simple: an insurance entity agrees to insure against default on a loan in exchange for premium payments made by you. So - you pay the premiums and should y.... Read More...
Posted on April 27   By Justin McHood
If you use any of the mortgage calculators to calculate what your mortgage payment will be, they will do a great job of calculating what the principal and interest will be on your loan. But did you know that there is more to your monthly mortgage payment than just your principal and interest? In mortgage-speak, you will sometimes hear the acronym "PITI" which stands for Principal, Interest, Taxes and Insurance. While many people focus on trying to save money with getting the lowest rates and f.... Read More...
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