If you’re on the hunt for a home, you’re likely well aware of listing prices, down payments, and maybe even closing costs. But as expensive as those all are, they’re not the end of your homeownership costs. In fact, they’re really just the beginning. As a homeowner, you’re beholden to dozens of expenses — both [...]
Are you tired of paying an extra $50 a month in mortgage insurance? You’re not alone. The average homeowner pays about $500 every year for MIP — and over the course of their loan life? That means thousands and thousands extra out of pocket. Fortunately, mortgage insurance premiums (or MIP) aren’t permanent. There are several [...]
When you bought your home, did you put down less than 20% for your down payment? If so, there's a good chance you've been paying private mortgage insurance (PMI). PMI helps a lot of folks qualify to purchase homes, but there's no way to sugarcoat the fact that it's also another monthly payment added to [...]
Maybe you’ve heard the term thrown around by your lender or loan officer, you’ve spotted a “PMI” line item on your closing disclosure, or you’re seeing “PMI” on your escrow statements. Whatever the reason, you want to know: what is this PMI and why am I being forced to pay it? For most people, PMI [...]
Your home is an investment—and probably the biggest one you’ll ever make. Want to protect that investment? That’s where homeowners insurance comes in. Designed to safeguard your home (and your finances) against weather, theft, natural disaster, or anything else that might happen along the way, homeowners insurance is a necessary part of owning a home. Unfortunately, [...]
Whether you’re a first-time home buyer or you’re well into paying off your mortgage, one thing’s for certain. You need homeowners insurance. Though it’s frustrating to add yet another monthly cost on top of your mortgage payment, your utilities, your car loans, and even just your groceries, the truth of the matter is this: homeowners [...]
