However, most FHA home loans require an upfront mortgage insurance premium or MIP and an annual premium regardless of the down payment amount. The upfront premium is 1.75% of the loan amount and is due when the mortgage closes. You can pay in cash or roll the amount into the loan. The...
2. You can secure a lower interest rateA lower interest rate is one of the best reasons to refinance your mortgage. This is because it means potentially reducing your monthly payment and paying less in interest over the life of your loan. And remember: Typically, the higher your credit ...
Learn seven great tax deductions you may be able to use if you’ve bought or sold a home this year. Owning a home means you may be eligible for deductions and credits for origination fees, mortgage interest, property taxes, and more.
The table below shows key dates and events for filing tax returns and paying taxes with the IRS. You can jump to FAQs and past tax year schedules in the sections below. 2025 Tax Filing Schedule for Returns & Extensions The IRS has confirmed it will start
1. You have had your current mortgage for a long time If you’ve been paying your original mortgage for over 10 years, refinancing may not be worth it, especially if you restart a 30-year loan term. Extending your loan means paying interest for additional years, which can increase the ov...
Take your holiday decor in a fresh direction with an unconventional color palette and a bit of whimsy. Karen DybisDec. 12, 2024 6 Holiday Front Porch Decor Ideas Spruce up your outdoor space this holiday season with these easy decorating tips. ...
If you want to discontinue your coverage, it is best to contact your insurer or your agent. If you stop paying your premiums but do not cancel your policy, your carrier will eventually cancel your policy for nonpayment. However, there may be charges for insurance coverage up until that poi...
Can I Afford Long-Term Care Insurance? Ease into retirement at your own pace and in a way that aligns with your interests. Rachel HartmanDec. 19, 2024 12 Alternatives to Full-Time Retirement Retirees may need to rethink their investments and income plans as interest rates begin to decline. ...
Rather than canceling your policy while it is still in effect, an insurer can decline to renew it when the time comes. Reasons for nonrenewal can include changes in the condition of your home, your claims history, or a decision on the insurer's part to stop doing business in a region b...
How Can I Cancel My PMI? Typically, PMI can be canceled once you have 20% equity in your home.Lendersmay also automatically remove PMI once you reach 22% equity. It is important to stay on top of your mortgage payments and to request the removal of PMI when appropriate.1314 The Bottom ...