Comments on: Savings Tip: Eliminate Your Private Mortgage Insurance

By: Mac

Mac — Wed, 17 Mar 2010 04:43:46 +0000

Hate to piggyback on my own reply, but…just learned that piggybacking your mortgage with a 80/10/10 deal is actually quite popular. 80% of the loan is the regular mortgage, 10% down of your own money, and another 10% separate loan. Avoids the extra fees of a PMI.

By: Mac

Mac — Thu, 04 Mar 2010 05:02:18 +0000

Or…you could also avoid the insurance by getting a line of credit loan to bump the mortgage down to the 80% level. Probably not as easy to do in this market anymore, and then you’ll have to pay the higher interest rate on this loan, but it’s an option.

By: Sean

Sean — Tue, 26 Jan 2010 03:11:54 +0000

I know this may sound disingenuous, but why is it so wrong to wait until you have 20% for a down payment before you buy? Buying a home is an awesome thing, but if you don’t have 20% to put down you may want to wait for more reasons than just to avoid paying PMI. With everything that has happened in the past year it seems like it should be a warning to future home buyers. Make sure you are prepared to pay your mortgage and have enough equity in your home to make it worth while for you.

By: margo

margo — Mon, 13 Apr 2009 20:29:11 +0000

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By: DaveMortgage

DaveMortgage — Thu, 09 Apr 2009 03:30:45 +0000

Contact your current lender 1st. They will order the appraisal from an appraiser on their approved list. Expect to pay $350 +/-

May 1st new Reg’s for appraisers, banks, lenders and brokers- google
Home Valuation Code of Conduct – HVCC

By: Mr. Assurance habitation

Mr. Assurance habitation — Wed, 08 Apr 2009 15:41:05 +0000

Thanks for this useful post. Really appreciate it. House insurance is a really a debatable issue under this economic down slide. I have bookmarked your blog. And I would sharing with my friends on facebook. Cheers mate.