Mortgage Insurance, what is it and why is it a thing?
PMI (Private Mortgage Insurance) and MI (Mortgage Insurance) are similar in that they are both types of insurance that protect the lender if a borrower defaults on a mortgage loan. However, there are some critical differences between the two: Source of insurance: PMI is provided by private insur
Breakdown of a 2-1 Buydown
A 2-1 buydown is a mortgage financing option where the lender provides a temporary reduction in the interest rate during the first two years of the loan. This reduction in the interest rate is called a "buydown" and is paid for by the seller or builder. Here's how a 2-1 buydown works: In the first
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Mortgage Insurance, what is it and why is it a thing?