January 15, 2025
If you’re unable to afford the 20% down payment when purchasing your home, you will need to purchase Private Mortgage Insurance or (PMI). PMI helps protect the lender in the case that you decide not to pay. PMI only covers the lender and provides no protections to the buyer.
With conventional loans, you must pay for Private Mortgage Insurance (PMI). Lenders require it to protect against losses if a borrower defaults.
When buying a new home, most people apply for a mortgage. This loan allows you to borrow money for the property and repay it with monthly payments plus interest
The Best Loan Option When looking at the best type of mortgage to get, we first need to look at your specific situation. Unfortunately there's no one-size fits all solution when it comes to the...
How Much Do I Really Need for a Down Payment? If you're looking to purchase a home, you may be wondering if you really need to come up with the full 20% to put as...
Improving your credit score can be challenging, but understanding the key factors that impact your score is essential. Key strategies include making on-time payments, paying down credit card balances, and avoiding closing your oldest credit...
In order to qualify for a mortgage you will generally what to keep your debt-to-income ratio below the following levels. 36% – 49%: A DTI in this range suggests that while a significant portion of...
So You've Closed on a Home Congratulations on your new home! Closing on a house is a major milestone, but what comes next? Many new homeowners are surprised by the financial and administrative responsibilities that...
Imagine this: after months of searching, you finally find your dream home. It has a big yard for the dog, a basement for the kids, the perfect room for your home office, and it’s in...
With mortgage rates on the rise, purchasing a home has become more challenging for many prospective buyers. However, a high-rate environment doesn't mean homeownership is out of reach. With the right strategies, you can maximize your...
The influence of pets on home-buying and renovation decisions has never been stronger. With over 66% of households owning at least one pet, homebuyers are prioritizing pet-friendly features more than ever. At Avanti Way Financial,...
