Mortgages and Financing

Definition Of Financed Mortgage Insurance

Mortgage insurance (MI) is a policy that protects lenders against borrowers defaulting on loans. It is generally required by a mortgage company on loans with a down payment that is less than 20% of the purchase price and is usually charged in

An Explanation Of Lender Closing Fees In PA

When you obtain financing for a home purchase, you will incur many different expenses related to the mortgage. These are normally called closing costs, but there actually include various types of fees. This blog provides an explanation of lender

5 Mortgage Refinancing Factors – PA Refinance Factors

Refinancing your home loan can lead to big savings if completed under the right conditions. Every mortgage and borrower is different, so an opportune situation for one homeowner does not necessarily apply to others. Prior to making a decision to

Advantages Of VA Financing In PA

Veterans may obtain VA financing provided by private lenders but guaranteed by the VA. The guarantee insures mortgage companies from loss up to a specific value should a borrower defaults on a loan. Because of this guarantee, lenders are able to

What Makes Up PA Recurring Home Loan Payments

It is useful to understand what makes up PA recurring home loan payments for budgeting purposes. The acronym PITI is commonly used to remember the items, which are principal, interest, taxes, and insurance. All loan payments do not automatically

Details On Variable Rate Mortgages In PA

Variable rate mortgages are considered by many home buyers due to the lower monthly payments at the beginning. The interest rate can be below fixed rate mortgages, but this is not always true. Home buyers should understand how these mortgages work

Title Searches For NJ Home Purchases

Ownership of real estate is tracked by its title. When property is transferred, the title is conveyed from one party to the other. It is therefore an essential component of a real estate transaction. This blog offers information on title searches for

Title Insurance Facts For PA Properties

Home owners often ask about title insurance, what it is, and and if it is required. Lender's coverage is required with most loans, however, owner's title insurance is typically optional. Home buyers should think about the features and

NJ Financing MI Definition

Mortgage insurance (MI) is a policy required by lenders to cover their losses if a property owner defaults on their mortgage. When the mortgage provider goes to relinquish a home, they are unlikely to regain the total amount owed on the mortgage. MI

Details of escrows and pre-paids for PA mortgage closings

Closing costs commonly refer to costs charged by mortgage companies and third parties. Pre-paid costs and escrows are often included in settlement fees and are frequently mistakened as closing costs, but are actually a separate classification.