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What else can I help you with?
Will all mortgage companys make you have homeowners insurance?
Yep, pretty much all of em do.
Where to find information about mortgage insurance?
Finding information on home mortgages is honestly a click away. Try major mortgage companies with many brands out their that have the information such as Fannie Mae and Freddie Mac are just a few mortgage companys.
Can I demolish my house and rebuild if I have a mortgage?
Yes, you can demolish your house and rebuild even if you have a mortgage, but you will need to get permission from your mortgage lender and follow their guidelines for the construction process.
What is one potential effect of an increase in mortgage interest rates?
Increased mortgage rates for a homeowner mean their mortgage payments increase. Additionally, less money will go towards reducing the principle with an increased interest rate.
How can I request a home appraisal to eliminate private mortgage insurance (PMI)?
To eliminate private mortgage insurance (PMI), you can request a home appraisal to show that the value of your home has increased enough to meet the lender's requirements for PMI removal. Contact your lender to request the appraisal and follow their specific guidelines for the process.
What rules does a FHA lender have to follow that a traditional mortgage lender does not?
FHA loans are handled differently and have guidelines set forth by the government restricting everything from income limits to down payment amounts. The normal mortgage lenders have guidelines but not nearly as strict as FHA.
Why has my mortgage increased due to changes in escrow?
Your mortgage may have increased due to changes in escrow because the amount needed to cover property taxes, insurance, or other escrowed expenses has gone up. This can happen if the costs of these expenses have increased or if there was a shortage in the escrow account.
Can you get an appraisal to remove PMI from your mortgage?
Yes, you can get an appraisal to remove Private Mortgage Insurance (PMI) from your mortgage if your home's value has increased enough to meet the lender's requirements for PMI removal.
How soon can you refinance a mortgage after closing?
You can typically refinance a mortgage after closing within 6 months to a year, but it's important to check with your lender for specific guidelines and requirements.
What is a conforming mortgage?
Loans meets underwriting guidelines required for Fannie Mae or Freddie Mac to purchase them.
What 21st century event lead to a decline in new home construction devalued housing and increased mortgage delinquencies and foreclosures?
subprime mortgage crisis
What is meant by a 'jumbo' mortgage loan?
A jumbo mortgage loan is a residential mortgage loan which has an original principal balance which exceeds the maximum amount permitted by the agencies typical guidelines. You would need to meet your bank manager for further information.
