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What else can I help you with?
Do you have to insure your home for more than the mortgage balance?
To the insurance company, your mortgage balance has no impact on how much insurance coverage you need for your home. Homeowners insurance is based on the replacement/reconstruction cost of your home.
Do you have to pay off your mortgage before selling your home?
No, you do not have to pay off your mortgage before selling your home. When you sell your home, the proceeds from the sale can be used to pay off the remaining balance of your mortgage.
When can I have PMI removed from my mortgage?
You can have PMI (Private Mortgage Insurance) removed from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and appreciation of your home's value.
When can I remove PMI from my mortgage?
You can typically remove Private Mortgage Insurance (PMI) from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and the increase in your home's value.
When can I remove my PMI from my mortgage?
You can typically remove Private Mortgage Insurance (PMI) from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and appreciation of your home's value.
Do you have to insure your home for more than the mortgage balance?
To the insurance company, your mortgage balance has no impact on how much insurance coverage you need for your home. Homeowners insurance is based on the replacement/reconstruction cost of your home.
Do you have to pay off your mortgage before selling your home?
No, you do not have to pay off your mortgage before selling your home. When you sell your home, the proceeds from the sale can be used to pay off the remaining balance of your mortgage.
When can I have PMI removed from my mortgage?
You can have PMI (Private Mortgage Insurance) removed from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and appreciation of your home's value.
When can I remove PMI from my mortgage?
You can typically remove Private Mortgage Insurance (PMI) from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and the increase in your home's value.
When can I remove my PMI from my mortgage?
You can typically remove Private Mortgage Insurance (PMI) from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and appreciation of your home's value.
When can you remove PMI from your mortgage?
You can typically remove Private Mortgage Insurance (PMI) from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and appreciation of your home's value.
How many payments on 1st mortgage until you can get a 2nd mortgage?
This is not determined by the number of payments you make, it is determined by how much equity you have in the home. If the home is worth more than the outstanding balance on the mortgage, you may be able to get a second mortgage or home equity line of credit.
How do you qualify for a reverse mortgage?
To qualify for a reverse mortgage, the borrower must be at least 62 years old, own their home in full (or be able to pay the balance on their home with the proceeds of the reverse mortgage), and live in that home as their primary residence.
When can I eliminate PMI from my mortgage payments?
You can typically eliminate private mortgage insurance (PMI) from your mortgage payments once you reach 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and an increase in your home's value.
When should I remove PMI from my mortgage?
You can typically request to remove Private Mortgage Insurance (PMI) from your mortgage once you have reached 20 equity in your home. This can be achieved through a combination of paying down your mortgage balance and an increase in your home's value.
What is the difference between a mortgage vs a home equity loan?
A mortgage is taken out for the sole purpose of paying for and acquiring a home. A home equity loan is taken out on a property where you already have a mortgage or have paid off the mortgage and want to release some of the difference between the value of your home and the balance of any remaining mortgage to spend on other purposes.
How does refinancing primary mortgage affect a home equity line of credit?
The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.
