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Mortgage Professor about new home purchase: | |||||||||||||||||||||||
Buy First or Sell First?
October 6, 2003, Revised May 4, 2005 ?I currently own a home which I would like to sell, and then buy another. What is the best sequence of steps in this process?? The situation you want to avoid is giving up your existing home before you can move into the new one. ... more... Questions About Title Insurance December 16, 2002 "What is title insurance?" Title insurance is protection against loss arising from problems connected to the title to your property. Before you purchased your home, it may have gone through several ownership changes, and ... more... |
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new home purchase related definitions |
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MIP, Mortgage Insurance Premium
MIP, Mortgage Insurance Premium It is insurance from FHA to the lender against incurring a loss on account of the borrower's default. Paid if FHA loan LTV is higher than 80%. Also known as FHA Mortgage Insurance. By insuring the loan the Federal Government agrees to repay ... more... Home Equity Loan Home Equity Loan A home equity loan is borrowing against the equity you have acquired in your home. Lets suppose your original mortgage was $175,000.00, but your house is worth $225,000.00. The difference is $50,000.00. ... more... |
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