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One of the little-known secrets in the mortgage industry is something we like to call up-front MI.  Most people don’t realize it, but on a conventional loan you can buy out the mortgage insurance with a discounted lump-sum at the closing t...

An 80-10-10 loan combines an 80% first mortgage with a 10% second mortgage and a 10% down payment.   This allows the buyer to avoid mortgage insurance, which is usually required when financing is more than 80% of the value of the home.  ...

Your down payment on a Conventional loan can now be gifted to you.  Historically, gifted funds were only allowed on government loans but now Freddie Mac and Fannie Mae have opened the door to allow gifts on conventional loans too.   This...

Renting provides a high level of flexibility to an individual, but in many cases it may also come at a cost. Rather than putting equity into a landlord’s pocket, building equity in a property you own can lead to a higher net worth in the long r...

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One of the most perplexing statements I hear from people is: "I need a mortgage because I need an interest write-off on my taxes – it saves me money." Let’s get one thing straight – Interest is Interest, regardless of...

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Even small amounts add up over time and can make a sizeable difference. For example, below are the results of paying little extra on a $200,000 mortgage at 4.5% with a 30-year term:   Extra Monthly Principal ...

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