Recently I was invited to contribute to an article for U.S. News on How to Avoid PMI on a Mortgage with Less Than 20% Down by Gina Freeman.
The article includes various strategies on how to avoid private mortgage insurance.
Private mortgage insurance is typically required when someone is putting down less than 20% for a home purchase or if someone has higher than an 80% loan-to-value if they’re refinancing a property and are using a conventional mortgage.
There are many ways private mortgage insurance (pmi) can be paid for, including a lump sum “single premium” as a closing cost or as part of the monthly mortgage payment.
There is also “split premium” which is a combo of a single premium and monthly and lender paid.
The seller may even be able to contribute towards private mortgage insurance if negotiated in the real estate contract and the loan meets required guidelines for someone who’s putting down less than 20% for a home purchase or if someone has higher than an 80% loan-to-value if they’re refinancing a property and are using a conventional mortgage. [Read more…]
I can’t take credit for the catchy phrase “Marry the house. Date the rate”. It’s being posted by mortgage professionals and real estate agents all over social media. What does this phrase mean? 
I was just reviewing one of my client’s mortgages and thought I’d share a happy story with you. I’m REALLY proud of them. I first met Ryan and Rachel Renton (yes, I made up the names…but the rest of the story is true), at a home buyers class that I was teaching. Home buyers interested in the down payment assistance programs offered by the Washington State Housing Finance Commission are required to take a “live” class or an online class in order to qualify for the 
ortgage rates for a 30 year fixed conventional mortgage are back to very low levels. This is largely due to current global concerns which may create a opportunity of opportunity for those who may benefit from a refinance.
