Physician loans: Interns, residents, fellows and doctors who completed their residency in the last five years can apply for loans of up to $1 million with no PMI. Construction loans: Financing for new construction and renovation is available in Alabama, Arizona, California, Colorado, Florida, Ne...
Lender-paid PMI Lender-paid mortgage insurance, sometimes called a no-PMI loan, isn’t exactly what it sounds like. With lender-paid PMI, the lender pays the premiums, but you’ll pay, too, by way of a higher interest rate on the loan. Often, that higher rate costs you more over ti...
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production. ...
PMI $0 HOA $0 Pros and Cons of a 15-Year Mortgage Pros Lower interest rates. Lenders are exposed to less risk with shorter-term loans and can offer borrowers lower interest rates. Of course, “The better your credit score, the better the rate you’ll be offered,” says Ray Rodriguez,...
But if your LTV is below a certain threshold—such as 20%—be prepared to pay PMI. Found a home you like and you’ve agreed to a price with the seller? Put some earnest money into the escrow account and apply for that mortgage. Once you’ve settled into the new home and begun ...
If we stack these five mortgage options against each other, it’s easy to see where the costs add up. For instance, the 30-year 5/1 ARM charges the most interest of the bunch, while the 15-year FHA packs the highest fees. But the 15-year fixed-rate conventional mortgage with a 20...
insured loans; VA, conforming, and non-conforming sub-prime refinancing. It's no secret that poor credit scores have hindered many homeowners, but the FHA programs have opened the door for borrowers to refinance into a fixed rate with loans like the FHA Secure, Hope for Homeowners and more....
Learn More: Can You Refinance Your Mortgage With No Home Equity?Cash-in refinance With a cash-in refinance, you make a lump-sum payment that allows you to replace your current home loan with a smaller one. This reduces your principal, can eliminate PMI, and lowers your monthly payment. Ad...
A loan that may be transferred to someone else while maintaining the same terms. For example, if you have an assumable loan (not all loans are assumable) and you sell your home, you may be able to transfer that loan to the new owner with no change in the interest rate and repayment ...
Whether you plan to buy a home or build one yourself, we can help you do so with zero down, no PMI, and other competitive benefits. Helping Denver & Colorado Homeowners Achieve their Dreams It is finally time to own your own home in Colorado’s beautiful Front Range region. Our loan pr...