Monthly Archives: June 2014


How Today's Mortgage Insurance Works

As you likely know, mortgage insurance is taken out by a lender to cover the lending company in the event the borrower defaults on his or her mortgage; the borrower pays the premiums. Typically, mortgage insurance is applicable when there is a low down payment, or when the borrower’s credit […]


The Benefits and Challenges of 15-Year Mortgages

Acquiring a 15-year mortgage, as compared to the traditional 30-year variety, has both benefits and challenges. Take this imaginary $100,000 loan as an example: For the 30-year loan, we’ll assume a rate of 5.00 percent; the monthly payment, excluding taxes and insurance would be $536.82. Because the rates for 15-year mortgages […]