What Types of Loans May Be Covered by Private Mortgage Insurance?

What Types of Loans May Be Covered by Private Mortgage Insurance?

Mortgage lenders need either a 20 percent down payment or private mortgage insurance. PMI covers rsquo & the creditor if the mortgage is foreclosed. Mortgage lenders expect to market homes for approximately 80 percent of their value. If the mortgage…

What Is a Mortgage Contingency?

What Is a Mortgage Contingency?

Real estate contracts include contingency clauses. These are announcements indicating the sale is conditional on something else happening. Among the most frequent contingencies is to get a mortgage. The contract permits a limited quantity of time for the buyers to…