A Buyer with Less than 20% Down HAS to Pay PMI…FALSE
A buyer with less than 20% down HAS to pay PMI. FALSE. In fact, there are 4 ways to pay PMI and 2 of them are not monthly. Here’s how: On a $400,000 loan on a condo with 5% down, you might have to pay $300 per month for PMI. However, to avoid that monthly fee,...
How the Unemployment Rate Affects Real Estate Investors
Economic news: The first Friday of the month we always get the previous month’s employment data. The Federal Reserve is putting a lot of weight on this data in their assessment of the overall economy. Think of it this way: if they don’t feel the employment numbers are...
Mortgage Rate Sheet for 9.5.14
Economic news: The first Friday of the month we always get the previous month’s employment data. The Federal Reserve is putting a lot of weight on this data in their assessment of the overall economy. Think of it this way: if they don’t feel the employment numbers...
Is it true that you have to have the same job for 2 years in order to qualify for a loan?
NO! You can have a gap of up to 3 months with no problem in qualifying. You can also be straight out of school with your first paycheck on a permanent job and qualify. You can also be out of work for many years due to maternity leave, illness, etc.; as long as you are...