Blog Archives

Mortgage Insurance (MIP vs PMI)

Mortgage Insurance (MIP vs PMI)

Often times when one is considering the idea of purchasing a home, mortgage insurance is forgotten about when considering their monthly payment.  When this happens, it can become a shock to the borrower.  Mortgage insurance is always important to consider whenever one doesn’t have a minimum 20% down payment.  There are two types of mortgage insurance depending on the loan program.  These two types are Mortgage Insurance Premium (MIP) for FHA loans, and Private Mortgage Insurance (PMI) for conventional loans.  Both of these types protect the lender in the event of a foreclosure by the borrower and allow the borrower to put less money down at the time of purchase on the home.  Let’s discuss these two types further.  Read the rest of this entry

Vocabulary Lesson 6

vocabulary property guidingABC – XYZ…and everything in between! Read the rest of this entry

Who REALLY understands Closings Costs anyway?!

Understanding Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and seller, as spelled out in the purchase contract. The cost split on these fees is, to an extent, negotiable. As I negotiate the purchase contract on your behalf, I will strive to achieve not only the selling price that you want, but to also limit the number and amount of closing costs for which you are responsible. Read the rest of this entry

Vocabulary – Lesson 4

vocabulary property guidingLesson 4 Read the rest of this entry