Questions tagged “Mortgage insurance”
Every answer on the desk tagged “Mortgage insurance”.
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Question No. 006: When can I remove PMI from my mortgage?
On most conventional loans, you can ask your servicer in writing to cancel PMI once your balance is scheduled to reach, or you pay it down to, 80% of your home's original value. It must…
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Question No. 003: FHA or conventional loan: which is better for a first-time buyer?
FHA is usually easier to qualify for if your credit score is lower or your debts are higher, and it needs just 3.5% down with a 580 score. Conventional often costs less over time for…
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Question No. 002: How much down payment do I need to buy a house?
You do not need 20% down. VA loans can require no down payment for eligible service members and veterans. Some conventional loans allow 3% down, and FHA loans allow 3.5% down with a…