JoAnn Johnson, the NCUA Chairwoman praised the Siloh FCU's homeownership and financial counseling efforts. The Siloh FCU announced its participation in the home ownership program of the Virginia Housing Development Agency. The article also presents the other programs of the Siloh FCU.BurgerCarolAnne...
— back several 3-percent-down conventional loan programs: Conventional 97 HomeReady Home Possible HomeOne You will be required to pay for private mortgage insurance (PMI). PMI varies in cost depending on your down payment amount and credit score. Once you reach 80 percent loan-to-value (LTV...
you have no equity in the property—that is, you don't own any of it outright like you would if you'd made a down payment. Consequently, lenders may tag you as a high-risk borrower and require you to secure private mortgage insurance (PMI) before they sign off on the loan. This in...
3% for conventional loans, 3.5% for FHA loans, 0% for VA, USDA and Destination Home Mortgage Who's this for?Flagstar Bankhas an array of affordable mortgages and homebuyer assistance programs: The Destination Home Mortgage lets borrowers in eligible counties put zero down with no mortgage insu...
It depends what your goal is – to save money on monthly payments or pay down your mortgage faster. The proposed refinance will mean more money going toward paying off the loan, as opposed to going toward interest and PMI. Consider what the remaining loan balance will be after those six ye...
Savage, Henry
If you have even a vague idea about what private mortgage insurance is, you probably don't like it. Private mortgage insurance, or PMI, is an interesting concept, and today's column will focus on what it is, why some lenders require it, and how you might be able to avoid it.Savage,...