What Is Private Mortgage Insurance (PMI)?
Private mortgage insurance, or PMI, is insurance that protects a lender if you fall behind on your mortgage payments. PMI is required on conventional loans (those backed by Federal government-sponsored enterprises Freddie Mac and Fannie Mae) with a down payment or equity of less than 20% of a home’s purchase price or home’s value on […]
Documents Needed at the Time of Mortgage Application
What Do I Need? There are a few mortgage application documents needed by your lender to complete you mortgage application. While some documents are required from most borrowers, other documents may be specific to only certain borrowers and situation. Below is a list of the typical required documents: Required By Most Paystubs: Including 30 days […]
