Mortgage Insurance Flyer Pile Up

This week 3 wonderful mortgage insurance company reps nearly bumped shoulders as they left my team's office.  The 2nd or 3rd one to visit tried to investigate the flyer the previous MI rep had dropped off on my desk in between me blinking my eyes during our conversation.  It was so fresh that I had not had time to file it away and it lay open as if to say "nana booboo I got here first" from the first to the next Mortgage Insurance rep. It's no secret in my office that Im not a fan of the … [Read more...]

Removing Mortgage Insurance Conv

The general consensus among consumers is that Conventional monthly mortgage insurance payments disappear when their home has 20% natural equity.  Maybe, but no so fast!  Conventional Monthly mortgage insurance (referred to as “MI” herein) elimination is either up to a mortgage servicer or it is dictated by the HPA (click here for a copy) – whichever comes first! Mortgage Insurance Removal - 2 Methods Typical MI Removal: Typically, a mortgage servicer will agree to remove MI when home has … [Read more...]

Mortgage Insurance – Homeowner’s Best Friend

Mortgage insurance premiums - the most unappreciated benefit in home ownership.  Shouldn't homeowners love something that can unlock over $90,000 in wealth building in just 5 years?   There's a saying - "we don't know what we have until it's gone."  While this is reserved for mostly sentimental matters, it applies to the often hated rarely appreciated thing called "mortgage insurance."  Why?  What if homeowners begrudgingly paying mortgage insurance lost the ability to own their home and … [Read more...]

Arizona Mortgage Insurance Options

The way that a home buyer pays for their mortgage insurance varies significantly depending upon the type of loan they use and in some cases personal preference.  It is important that your Arizona Mortgage Lender helps you understand what your mortgage insurance options are.  Let's start by taking a look at what your options are loan type by loan type. Conventional Financing Mortgage Insurance When is Conventional mortgage insurance paid? Conventional mortgage insurance is paid anytime a … [Read more...]

Mortgage Insurance Need to Know

What is Mortgage Insurance? If you are considering buying or even refinancing a home this is a question you absolutely need to know the answer to.  Lets start with the short answer.  Mortgage Insurance is an insurance policy that a home buyer or homeowner must pay if they do not have at least 20% equity in their home.  Mortgage Insurance protects the lender in case a homeowner defaults on their mortgage.  Mortgage insurance does not do anything for the homeowner other than allow them to … [Read more...]