Default insurance for mortgages with loan-to-value ratios (LTVs) exceeding 80% comes in two forms: mortgage insurance premiums (MIPs), as required by the Federal Housing Administration (FHA); or private mortgage insurance (PMI), available from private insurers. The rate of default insurance premium and the underlying interest rate vary depending on the […]
Determining how much home you can afford takes some number crunching. Sure, you should look at the listing price — but that’s only one part of the equation. In reality, there are dozens of other expenses you’ll face as a homeowner. So what should you consider when budgeting for a […]
Today’s mortgage rate trends point to the reemergence of the once common carryback sale. A carryback sale is also known as: seller financing; an installment sale; a credit sale; and an owner-will-carry (OWC). A seller who extends installment financing on the sale of their property for deferred payment of part […]
What does a law constructed to prevent terrorist attacks in the U.S. have to do with mortgages? If you’re a mortgage loan originator (MLO), a lot, it turns out. The 2001 Patriot Act amended the Bank Secrecy Act, which was enacted in 1970 to combat money laundering and terrorist financing. […]
This video shows what happens when one person gets a free credit report from AnnualCreditReport.com and someone else gets a “free” credit score from a TV ad. Watch my video for step by step instructions running the free credit report from AnnualCreditReport.com. https://kenlends.com/run-your-credit-for-free-and-save-thousands/ Ask me any real estate or mortgage […]