Topics
Rates and PMI
How interest rates, points and mortgage insurance change what you pay.
2 questions
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Question No. 007: Should I buy mortgage points to lower my interest rate?
Buy mortgage points only if you expect to keep the loan longer than your break-even point, the month when your monthly savings have repaid the upfront cost. One point costs 1% of the…
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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…