Know About Private Mortgage Insurance (PMI)Know About Private Mortgage Insurance (PMI)

Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI). What is PMI? Freddie Mac defines PMI as: “An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%. Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from

Home Staging is Going Digital

To successfully sell a home, it is crucial for potential buyers to be able to visualize themselves living in the home. This can be especially difficult with an empty house or one filled with the personal belongings of the seller. For these reasons, real estate agents often recommend home staging. Many studies reveal that staged homes sell faster and at a higher price than homes not staged. One survey, for example, yielded results which showed that 68% of staged homes sold for at least 9% more than nearby homes that had not been staged. No longer limited to hiring someone to furnish and decorate your home for showings, home staging is going virtual. Virtual home staging, much like traditional

4 Reasons to Buy A Home This Summer

Here are four reasons to consider buying today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year. Home values will continue to appreciate. Waiting may no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fann

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