What is down payment - Late Mortgage Payments Sabotage PMI Cancellation



Home \| Ask Your Question \| Mortgage Glossary \|Free Credit Report \| Mortgage Calculator

Mortgage Professor about down payment:

The Pros and Cons of Making a Larger Down Payment
November 22, 1999 "I have my money at work earning a 12-14% return year-in and year-out. My thinking, therefore, is that I should make the smallest down payment possible because the return on a larger down payment will be the ... more...

Tutorial on Selecting Mortgage Features
Planning to shop for a mortgage on-line? You need to answer the following questions first, so you know exactly what you are shopping for. 1. What Type of Mortgage Should I Select? 2. Which Mortgage Options Should I Select? 3. How Long a Term Should I Take? 4. ... more...

down payment related definitions

Private Mortgage Insurance, PMI
Private Mortgage Insurance, PMI Loans with an LTV over 80% may require Private Mortgage Insurance (in some cases 75% or 70% when refinancing). If you do not have a 20 percent down payment, lenders will allow a smaller down payment. With the smaller down payment loans, however ... more...

Down Payment
Down Payment Money paid to make up the difference between the purchase price and the mortgage amount. Example : John buys a house for $100,000 and obtains a loan for $80,000. His downpayment is $20,000. Closing Costs Locating Downpayment ... more...

More about down payment

Get Free down payment Quotes and Estimates
Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Late Mortgage Payments Sabotage PMI Cancellation
There's something you should know about PMI!Private mortgage insurance is commonly referred to as PMI. If a buyer makes a down payment of less than 20% of a home's value the lender will insist that a premium for PMI be added to every monthly payment.Statistics prove that the more money a buyer has ... more...

3 Things to Look For in a Zero Down Mortgage Lender Online
A zero down home mortgage allows you to purchase a home even if you dont have money to cover a down payment which makes them a great option if you are a first time homebuyer or you dont want to spend your savings on a down payment. When shopping around for a zero down mortgage lender online, there ... more...

Lease Options or Rent to Own?
Finding a rent-to-own house is one of the many ways someone with bad or no credit can buy a house. You will often find them called names like lease/options, lease with option to buy, lease purchase, lease 2 purchase, rent with option to buy, rent to own, or rent to buy homes.There are a few ... more...

New Car Loans How Much Can You Afford To Borrow?
Before you start car shopping, first figure out what you can afford for a car payment. Look at your budget, research auto loans, and investigate lenders. Once armed with this information, you can choose a car that you can both enjoy and afford.Expense Of A CarAccording to the FCIC, a car payment ... more...

Bad Credit Mortgage - Got Bad Credit? Get 100% Financing!
Would you like to purchase a home but think it is impossible because you have low credit scores and very little money saved for a down payment? So you've given up the dream of owning your own home, having to wait until your credit scores improve or until you have saved enough for a substantial ... more...

Basic Mortgage Terms
If it is your first time applying for a mortgage, there are a number of terms you should know. Educating yourself on the various mortgage terms you will run into will help you make better decisions when deciding which home you want to purchase. When you sign a mortgage contract, your home is used ... more...

Subprime Mortgages How Large of a Down Payment Do You Need?
Subprime mortgages offer more flexibility with down payments than conventional home loans. You can choose to put nothing or over 20% down. And with a subprime mortgage, you dont have to worry about paying private mortgage insurance.Zero-Down MortgagesZero-down mortgages allow people with little ... more...

FHA Home Loan Information - Buying A Home With Help From The Government
The federal government wants to help you buy a home. They see it as a way to improve the economy, provide a stable tax base, and help grow communities. To encourage homeownership, the federal government backs loans for those who might have trouble qualifying for a conventional loan.Loans For Low To ... more...

How To Find a Real Estate Agent
You may be of the opinion that you dont need a real estate agent and that using one will add to the cost of buying your new home.The fact is that a real estate agents fees are typically paid by the seller of the home. So, as a buyer, you can get the services of a professional real estate agent ... more...

Car Loan Financing Finding a Good Lender
When purchasing a new vehicle, most people dont have enough funds to pay cash and must obtain car loan financing. After deciding which type of car to buy, the next important step is finding a good lender. While you may have no problem qualifying for car loan financing, it is important to shop ... more...

Return to previous page