Private mortgage insurance is required when you purchase a home with a down payment of less than 20% of the sale price or the appraised home value, whichever is less. Your lender in this case will expect you to purchase a private mortgage insurance policy so that even if you
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The Right Time for Mortgage Refinancing
If interest rates have dropped by a percentage point or more since you got your first mortgage, refinancing could save you big bucks. And if you have enough equity so that your new mortgage is for less than 80% of your home’s value, you’ll be able to stop paying Private
Continue readingKentucky Mortgage Usda Loan Zero Down Home Loans Still Exist
Kentucky Mortgage USDA Loan Requirements What are the Kentucky USDA Mortgage Loan Requirements? To decide if you qualify for an USDA Mortgage Loan, we will look at: “Your income and your monthly expenses. Standard debt-to-income ratios are 29/41 for USDA Loans. These ratios may be exceeded with compensation factors. “Your
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