FHA Loans vs USDA Mortgages – What Are Some of the Differences?

FHA Loans vs USDA Mortgages – What Are Some of the Differences?

by | Jun 20, 2016 | Home Buying

While FHA loans and USDA mortgages are both popular, affordable home financing programs, they each offer different benefits and have very specific eligibility requirements. Let’s take a look at some of these programs key differences. Down Payment While most...
Understanding Private Mortgage Insurance – How Does It Work?

Understanding Private Mortgage Insurance – How Does It Work?

by | Apr 29, 2016 | Home Buying

PMI, an abbreviation for private mortgage insurance, is an insurance premium charged by mortgage lenders and paid for by the mortgage borrower. Do I have to pay PMI? PMI is generally required on conventional home loans with an LTV (loan-to-value) ratio of more than 80...