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- views: 4601
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October 11, 2013
In today's local housing market, a large share of Home Buyers will put less than 20% down. So the conversation about Mortgage Insurance begins.
But inevitably, many of those Buyers say "I don't want to pay PMI", or "I heard there were loans that didn't have mortgage insurance", or "I saw this ad online ..."
You get the picture.
So when it comes to paying monthly mortgage insurance on your home loan, whether you are buying a home, or refinancing your current mortgage loan, is there a way to avoid paying this extra cost that everyone wants to avoid?
You’ve decided to buy a brand new house, so you call me and ask, “What do I need to do to get started?" One of the first questions I’ll ask you, is “how much you plan to put down on this home purchase?”. If it's anything less than 20%, we may have to start talking about mortgage insurance.
But wait a second! You don’t want to pay mortgage insurance, right? You’ve heard about these loan programs, or saw online where you didn’t have to pay it … however, I’m here to tell you that if you are going to put less than 20% down on virtually ANY loan program out there, you will have to pay mortgage insurance or some variation thereof on your home loan.
Let me explain what mortgage insurance really is – and trust me, it’s not there to pay off your mortgage in the event that something happens to you.
For instance: if you default on your mortgage and don’t make your house payments, the bank will go to the mortgage insurance company and say they took a loss on your loan. The insurance company will then cut the bank a check for anything above 80% loan-to-value that you still owed on your loan balance.
Mortgage insurance is there to protect the lender – it’s basically a policy protecting the bank for the risk they took on you with a smaller down-payment.
How does mortgage insurance factor in when obtaining your loan?
If you happen to have military background and are applying for a VA loan, you technically don’t have to pay mortgage insurance monthly. However, they do charge a big funding fee, which can be up to 2% or even 3% of the loan amount, and this is added to your mortgage loan balance. You are still paying for it; it’s just financed into your payment over the next 30 years.
Here's how the major home loan programs treat mortgage insurance:
FHA does a combination of charging you an upfront fee and then a large amount in your monthly payment. So you end up paying for it on both sides of the deal, and the monthly portion will be there for the life of the loan.
USDA loans are very similar. They charge a larger amount upfront, added to your balance, and a smaller amount monthly.
Conventional – this is the most common type of home loan – and the only kind that gives you multiple options on how to pay mortgage insurance.
The traditional way is pay mortgage insurance is by paying it monthly, but there are methods to eliminate that completely.
Take a look at these examples:
Let’s say you are buying a house for $250K. You have excellent credit, good debt ratios, and you’re putting 5% down. You would be looking at a ballpark figure of $100 or $110 for monthly payments (no upfront fee).
You could do a “split premium”, where there’s an amount up-front, and a less on the monthly payment side.
However, if you don’t want to pay it monthly at all – because remember, you called me and said you don’t want that extra payment! – then you have the option to do a lump sum, also known as a “single premium”. This one-time payment at closing wipes the mortgage insurance out completely, meaning nothing more to pay monthly.
One of the most popular ways to get rid of paying monthly mortgage insurance is financing it. This would mean as long as we stay within the loan-to-value ratios, we can tack that mortgage insurance single-premium onto your balance. So instead of paying $110 a month, it may only raise your payment $15 or $20 a month – and again, you’d be done with it.
It’s not necessarily a bad thing to carry mortgage insurance! It's more about how you have to pay for it.
There are a lot of different options available…we can even work on helping you get the seller to pay for it. We will find the right plan for you, so you can still buy or refinance your home, without needing a 20% down-payment, or equity in your home.
Give me a call at 503.698.5801 or visit me at www.CallNewman.com and let’s go over the details of your next home loan. I’ll personalize your specific numbers and work with you to avoid that large monthly payment.
One of the more confusing aspects of Buying your home is the Mortgage Insurance Premium and what it's for.
- published: 27 Mar 2012
- views: 1682
Ever wondered what may happen to your home and your loved ones should an unfortunate event occur to you? Mortgage insurance puts these concerns to rest by protecting your family from the financial burdens resulting from such an occasion.
For more details, visit http://www.ocbc.com/personal-banking/Insurance/home-mortgage-insurance.html
- published: 02 Apr 2013
- views: 4651
If you are working New Homeowner Phone Data, Mortgage Protection Direct Mail Leads, or prospecting Home Owners, this video is a must see. Learn a proven, and simplistic selling system for presenting and selling Mortgage Protection Insurance. This video is excellent for new agents. Get all my videos, scripts, and training documents for FREE by following this link. http://www.protectthehouse.com/freetraining.php
- published: 03 Apr 2014
- views: 8035
What is the difference between mortgage insurance and individual life insurance?
Mortgage life is owned by the bank. It is put into place by the bank and is there to protect the banks balance sheet rather than your family. Each and every time you move or refinance your mortgage you must re-qualify medically for coverage and if you have had a change in health and now you don't qualify, you are left without coverage. With individual life you own the policy and it follows you... not your mortgage.
With mortgage life if you do pass away, all the money goes directly to the bank not to your beneficiaries or loved ones as is the case with individual life.
With mortgage insurance the bank will get only the amount outstanding on the mortgage itself, whereas with individual life insurance the full amount of the initial insurance policy goes to YOUR beneficiaries... not just the amount left outstanding on the mortgage! Your beneficiaries can choose what to do with the money.
Lastly... individual life insurance is based on your health rather than a general health... therefore... it's typically cheaper!
Another good piece of information is a documentary done on CBC Marketplace in 2008 called "In Denial." The documentary shows the viewer how once you sign the paperwork to buy your house you are asked if you want to protect your new investment. If the answer is yes, and we suspect it would be, you are asked to sign here. You skim a solid page of small print and thinking you are healthy you sign on the dotted line. This documentary goes on to show how few people are paid out under these polices and some of the issues that can arise. (Check it out at http://www.cbc.ca/marketplace/in_denial/)
- published: 19 Jul 2011
- views: 6111
Few aspects of financing a home confuse people more than the concept of PMI, which stands for Private Mortgage Insurance. It is insurance a mortgage company requires the borrower to purchase whenever there is less than a 20% down payment. Since a lower down payment could represent a higher risk of default, the borrower pays for this insurance to protect the mortgage company in case the borrower defaults by not paying the loan back.
PMI is included in your monthly mortgage payment, however there are programs that allow the borrower to pay it up front or finance it instead. The actual amount you pay will vary based on your total loan amount and the percentage of your down payment. The higher your down payment between 0-20%, the lower your PMI rate will be. You can avoid PMI by putting 20% or more down on the loan, paying it upfront at closing, or as we've seen in some markets, separating the loan amount into 2 loans (known as piggyback mortgages).
Depending on the type of loan, PMI does not last forever. If you have a conventional loan, you can contact your mortgage company and request they remove the PMI once you reach 20% equity in your home. So when you see you have paid your loan balance down to 80% of the purchase price (or refinance value), contact them. If you feel the value of the home has risen enough to where you may now have 20% equity, then you can ask them to remove it, although you may have to pay for an appraisal to prove it.
It's a different story if you have an FHA loan. For any FHA loans after April 1st, 2013 with less than 10% down, PMI stays for the lifetime of the loan. So the only way to remove it in that instance is to refinance into a conventional mortgage or sell the home and start a new loan for the new property. FHA loans started before that date will have PMI that automatically falls off when you reach 22% equity or you can ask for it to be removed at 20% equity like with conventional loans.
The good news is that for many people, PMI paid on the loan throughout the year is tax deductible as long as your income is within certain limits (currently 110k for a married couple, 55k for an individual). PMI also helps many people get their foot in the door to homeownership who would otherwise not be able to save such a large sum for a down payment. If you don't want to pay PMI, you'll need to have a 20% down payment.
If you'd like to learn more or start the purchase of buying or selling a home, contact me. I have a great lender that can help explain more. You can reach me at 610-310-6408 or at www.MarielSells.com!
- published: 01 Nov 2014
- views: 5554
This video explains how to remove mortgage insurance from your conventional Fannie Mae or Freddie Mac mortgage. It includes notes on lender paid and borrower paid mortgage insurance. You can read the entire The Homeowners Protection Act of 1998 text here: http://www.federalreserve.gov/boarddocs/caletters/2004/0405/CA04-5Attach1.pdf
- published: 25 Jun 2012
- views: 14863
Mortgage Insurance (Lender’s Mortgage Insurance or LMI) can allow a first time home buyer to get on the property ladder quicker by decreasing the deposit required to as little as 5%. Click to learn more with our Simplifier Videos and quick guide to Mortgage Insurance.
- published: 19 Feb 2015
- views: 919
HomeOpeners®: Mortgage Insurance 101
A conventional mortgage in Canada normally requires a down payment of at least 20% of the purchase price. When homebuyers have less than 20% for a down payment, Mortgage Insurance allows them to secure a mortgage for their home purchase.
Tailored Mortgage Insurance products from Genworth Canada can help you achieve the dream of homeownership sooner and with as little as 5% down.
Saving for a down payment is always a great idea. Trouble is, depending on the area, prices may be rising faster than the savings are building up. And, as values rise, the dream home gets further out of reach.
This is where mortgage default insurance – more commonly referred to as “mortgage insurance” - can help…by enabling qualified borrowers to purchase a home with as little as a five per cent down payment.
If the right home for you has a purchase price of $300K, then lenders will normally require you to provide a down payment of at least $60K. With Mortgage Insurance, you can secure a mortgage with as little as $15K down.
Mortgage insurance is a win-win situation for homebuyers and lenders. Lenders rely on it to protect themselves from financial losses in case a loan is not repaid. Because lenders have this protection, they are able to offer loans with smaller down payments, provided credit and legal requirements are met. For homebuyers, this means access to homeownership sooner at a competitive rate, and with a lower down payment.
Know your options and ask your mortgage professional how Genworth Canada can help you realize the dream of homeownership sooner.
Homebuyer resources: http://homeownership.ca
http://genworth.ca/
- published: 15 Sep 2014
- views: 5884
Mortgage insurance
Mortgage Insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer. The policy is also known as a mortgage indemnity guarantee (MIG), particularly in the UK.
Australia
In Australia, borrowers must pay Lenders Mortgage Insurance (LMI) for home loans over 80% of the purchase price.
Singapore
In Singapore, it is mandatory for owners of HDB flats to have a mortgage insurance if they are using the balance in their Central Provident Fund (CPF) accounts to pay for the monthly instalment on their mortgage. However, they have the choice of selecting a mortgage insurance administered by the CPF Board or stipulated private insurers.
On the other hand, it is not mandatory for owners of private homes in Singapore to take a mortgage insurance.
United States
Private mortgage insurance
Private mortgage insurance is typically required when down payments are below 20%. Rates can range from 0.32% to 1.20% of the principal of the loan per year based upon loan factors such as the percent of the loan insured, loan-to-value (LTV), fixed or variable, and credit score. The rates may be paid in a single lump sum, annually, monthly, or in some combination of the two (split premiums). In the U.S., payments by the borrower were tax-deductible until 2010.
This page contains text from Wikipedia, the Free Encyclopedia -
https://wn.com/Mortgage_insurance
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
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4:17Avoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATED
Avoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATEDAvoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATED
October 11, 2013 In today's local housing market, a large share of Home Buyers will put less than 20% down. So the conversation about Mortgage Insurance begins. But inevitably, many of those Buyers say "I don't want to pay PMI", or "I heard there were loans that didn't have mortgage insurance", or "I saw this ad online ..." You get the picture. So when it comes to paying monthly mortgage insurance on your home loan, whether you are buying a home, or refinancing your current mortgage loan, is there a way to avoid paying this extra cost that everyone wants to avoid? You’ve decided to buy a brand new house, so you call me and ask, “What do I need to do to get started?" One of the first questions I’ll ask you, is “how much you plan to put down on this home purchase?”. If it's anything less than 20%, we may have to start talking about mortgage insurance. But wait a second! You don’t want to pay mortgage insurance, right? You’ve heard about these loan programs, or saw online where you didn’t have to pay it … however, I’m here to tell you that if you are going to put less than 20% down on virtually ANY loan program out there, you will have to pay mortgage insurance or some variation thereof on your home loan. Let me explain what mortgage insurance really is – and trust me, it’s not there to pay off your mortgage in the event that something happens to you. For instance: if you default on your mortgage and don’t make your house payments, the bank will go to the mortgage insurance company and say they took a loss on your loan. The insurance company will then cut the bank a check for anything above 80% loan-to-value that you still owed on your loan balance. Mortgage insurance is there to protect the lender – it’s basically a policy protecting the bank for the risk they took on you with a smaller down-payment. How does mortgage insurance factor in when obtaining your loan? If you happen to have military background and are applying for a VA loan, you technically don’t have to pay mortgage insurance monthly. However, they do charge a big funding fee, which can be up to 2% or even 3% of the loan amount, and this is added to your mortgage loan balance. You are still paying for it; it’s just financed into your payment over the next 30 years. Here's how the major home loan programs treat mortgage insurance: FHA does a combination of charging you an upfront fee and then a large amount in your monthly payment. So you end up paying for it on both sides of the deal, and the monthly portion will be there for the life of the loan. USDA loans are very similar. They charge a larger amount upfront, added to your balance, and a smaller amount monthly. Conventional – this is the most common type of home loan – and the only kind that gives you multiple options on how to pay mortgage insurance. The traditional way is pay mortgage insurance is by paying it monthly, but there are methods to eliminate that completely. Take a look at these examples: Let’s say you are buying a house for $250K. You have excellent credit, good debt ratios, and you’re putting 5% down. You would be looking at a ballpark figure of $100 or $110 for monthly payments (no upfront fee). You could do a “split premium”, where there’s an amount up-front, and a less on the monthly payment side. However, if you don’t want to pay it monthly at all – because remember, you called me and said you don’t want that extra payment! – then you have the option to do a lump sum, also known as a “single premium”. This one-time payment at closing wipes the mortgage insurance out completely, meaning nothing more to pay monthly. One of the most popular ways to get rid of paying monthly mortgage insurance is financing it. This would mean as long as we stay within the loan-to-value ratios, we can tack that mortgage insurance single-premium onto your balance. So instead of paying $110 a month, it may only raise your payment $15 or $20 a month – and again, you’d be done with it. It’s not necessarily a bad thing to carry mortgage insurance! It's more about how you have to pay for it. There are a lot of different options available…we can even work on helping you get the seller to pay for it. We will find the right plan for you, so you can still buy or refinance your home, without needing a 20% down-payment, or equity in your home. Give me a call at 503.698.5801 or visit me at www.CallNewman.com and let’s go over the details of your next home loan. I’ll personalize your specific numbers and work with you to avoid that large monthly payment. -
4:30What IS Mortgage Insurance?
What IS Mortgage Insurance?What IS Mortgage Insurance?
One of the more confusing aspects of Buying your home is the Mortgage Insurance Premium and what it's for. -
1:57What is mortgage insurance?
What is mortgage insurance?What is mortgage insurance?
Ever wondered what may happen to your home and your loved ones should an unfortunate event occur to you? Mortgage insurance puts these concerns to rest by protecting your family from the financial burdens resulting from such an occasion. For more details, visit http://www.ocbc.com/personal-banking/Insurance/home-mortgage-insurance.html -
24:14Selling Mortgage Protection Insurance Made Simple
Selling Mortgage Protection Insurance Made SimpleSelling Mortgage Protection Insurance Made Simple
If you are working New Homeowner Phone Data, Mortgage Protection Direct Mail Leads, or prospecting Home Owners, this video is a must see. Learn a proven, and simplistic selling system for presenting and selling Mortgage Protection Insurance. This video is excellent for new agents. Get all my videos, scripts, and training documents for FREE by following this link. http://www.protectthehouse.com/freetraining.php -
4:35Mortgage Insurance Vs Individual Life Insurance
Mortgage Insurance Vs Individual Life InsuranceMortgage Insurance Vs Individual Life Insurance
What is the difference between mortgage insurance and individual life insurance? Mortgage life is owned by the bank. It is put into place by the bank and is there to protect the banks balance sheet rather than your family. Each and every time you move or refinance your mortgage you must re-qualify medically for coverage and if you have had a change in health and now you don't qualify, you are left without coverage. With individual life you own the policy and it follows you... not your mortgage. With mortgage life if you do pass away, all the money goes directly to the bank not to your beneficiaries or loved ones as is the case with individual life. With mortgage insurance the bank will get only the amount outstanding on the mortgage itself, whereas with individual life insurance the full amount of the initial insurance policy goes to YOUR beneficiaries... not just the amount left outstanding on the mortgage! Your beneficiaries can choose what to do with the money. Lastly... individual life insurance is based on your health rather than a general health... therefore... it's typically cheaper! Another good piece of information is a documentary done on CBC Marketplace in 2008 called "In Denial." The documentary shows the viewer how once you sign the paperwork to buy your house you are asked if you want to protect your new investment. If the answer is yes, and we suspect it would be, you are asked to sign here. You skim a solid page of small print and thinking you are healthy you sign on the dotted line. This documentary goes on to show how few people are paid out under these polices and some of the issues that can arise. (Check it out at http://www.cbc.ca/marketplace/in_denial/) -
3:36PMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of It
PMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of ItPMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of It
Few aspects of financing a home confuse people more than the concept of PMI, which stands for Private Mortgage Insurance. It is insurance a mortgage company requires the borrower to purchase whenever there is less than a 20% down payment. Since a lower down payment could represent a higher risk of default, the borrower pays for this insurance to protect the mortgage company in case the borrower defaults by not paying the loan back. PMI is included in your monthly mortgage payment, however there are programs that allow the borrower to pay it up front or finance it instead. The actual amount you pay will vary based on your total loan amount and the percentage of your down payment. The higher your down payment between 0-20%, the lower your PMI rate will be. You can avoid PMI by putting 20% or more down on the loan, paying it upfront at closing, or as we've seen in some markets, separating the loan amount into 2 loans (known as piggyback mortgages). Depending on the type of loan, PMI does not last forever. If you have a conventional loan, you can contact your mortgage company and request they remove the PMI once you reach 20% equity in your home. So when you see you have paid your loan balance down to 80% of the purchase price (or refinance value), contact them. If you feel the value of the home has risen enough to where you may now have 20% equity, then you can ask them to remove it, although you may have to pay for an appraisal to prove it. It's a different story if you have an FHA loan. For any FHA loans after April 1st, 2013 with less than 10% down, PMI stays for the lifetime of the loan. So the only way to remove it in that instance is to refinance into a conventional mortgage or sell the home and start a new loan for the new property. FHA loans started before that date will have PMI that automatically falls off when you reach 22% equity or you can ask for it to be removed at 20% equity like with conventional loans. The good news is that for many people, PMI paid on the loan throughout the year is tax deductible as long as your income is within certain limits (currently 110k for a married couple, 55k for an individual). PMI also helps many people get their foot in the door to homeownership who would otherwise not be able to save such a large sum for a down payment. If you don't want to pay PMI, you'll need to have a 20% down payment. If you'd like to learn more or start the purchase of buying or selling a home, contact me. I have a great lender that can help explain more. You can reach me at 610-310-6408 or at www.MarielSells.com! -
5:11How To Remove Mortgage Insurance (MI or PMI)
How To Remove Mortgage Insurance (MI or PMI)How To Remove Mortgage Insurance (MI or PMI)
This video explains how to remove mortgage insurance from your conventional Fannie Mae or Freddie Mac mortgage. It includes notes on lender paid and borrower paid mortgage insurance. You can read the entire The Homeowners Protection Act of 1998 text here: http://www.federalreserve.gov/boarddocs/caletters/2004/0405/CA04-5Attach1.pdf -
5:13Private Mortgage Insurance Explained
Private Mortgage Insurance ExplainedPrivate Mortgage Insurance Explained
Private Mortgage Insurance Explained -
1:12What is Lender's Mortgage Insurance (RAMS Simplifier)
What is Lender's Mortgage Insurance (RAMS Simplifier)What is Lender's Mortgage Insurance (RAMS Simplifier)
Mortgage Insurance (Lender’s Mortgage Insurance or LMI) can allow a first time home buyer to get on the property ladder quicker by decreasing the deposit required to as little as 5%. Click to learn more with our Simplifier Videos and quick guide to Mortgage Insurance. -
2:01Mortgage Insurance 101
Mortgage Insurance 101Mortgage Insurance 101
HomeOpeners®: Mortgage Insurance 101 A conventional mortgage in Canada normally requires a down payment of at least 20% of the purchase price. When homebuyers have less than 20% for a down payment, Mortgage Insurance allows them to secure a mortgage for their home purchase. Tailored Mortgage Insurance products from Genworth Canada can help you achieve the dream of homeownership sooner and with as little as 5% down. Saving for a down payment is always a great idea. Trouble is, depending on the area, prices may be rising faster than the savings are building up. And, as values rise, the dream home gets further out of reach. This is where mortgage default insurance – more commonly referred to as “mortgage insurance” - can help…by enabling qualified borrowers to purchase a home with as little as a five per cent down payment. If the right home for you has a purchase price of $300K, then lenders will normally require you to provide a down payment of at least $60K. With Mortgage Insurance, you can secure a mortgage with as little as $15K down. Mortgage insurance is a win-win situation for homebuyers and lenders. Lenders rely on it to protect themselves from financial losses in case a loan is not repaid. Because lenders have this protection, they are able to offer loans with smaller down payments, provided credit and legal requirements are met. For homebuyers, this means access to homeownership sooner at a competitive rate, and with a lower down payment. Know your options and ask your mortgage professional how Genworth Canada can help you realize the dream of homeownership sooner. Homebuyer resources: http://homeownership.ca http://genworth.ca/
-
Avoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATED
October 11, 2013 In today's local housing market, a large share of Home Buyers will put less than 20% down. So the conversation about Mortgage Insurance begins. But inevitably, many of those Buyers say "I don't want to pay PMI", or "I heard there were loans that didn't have mortgage insurance", or "I saw this ad online ..." You get the picture. So when it comes to paying monthly mortgage insurance on your home loan, whether you are buying a home, or refinancing your current mortgage loan, is there a way to avoid paying this extra cost that everyone wants to avoid? You’ve decided to buy a brand new house, so you call me and ask, “What do I need to do to get started?" One of the first questions I’ll ask you, is “how much you plan to put down on this home purchase?”. If it's anything l...
published: 09 Dec 2014 -
What IS Mortgage Insurance?
One of the more confusing aspects of Buying your home is the Mortgage Insurance Premium and what it's for.
published: 27 Mar 2012 -
What is mortgage insurance?
Ever wondered what may happen to your home and your loved ones should an unfortunate event occur to you? Mortgage insurance puts these concerns to rest by protecting your family from the financial burdens resulting from such an occasion. For more details, visit http://www.ocbc.com/personal-banking/Insurance/home-mortgage-insurance.html
published: 02 Apr 2013 -
Selling Mortgage Protection Insurance Made Simple
If you are working New Homeowner Phone Data, Mortgage Protection Direct Mail Leads, or prospecting Home Owners, this video is a must see. Learn a proven, and simplistic selling system for presenting and selling Mortgage Protection Insurance. This video is excellent for new agents. Get all my videos, scripts, and training documents for FREE by following this link. http://www.protectthehouse.com/freetraining.php
published: 03 Apr 2014 -
Mortgage Insurance Vs Individual Life Insurance
What is the difference between mortgage insurance and individual life insurance? Mortgage life is owned by the bank. It is put into place by the bank and is there to protect the banks balance sheet rather than your family. Each and every time you move or refinance your mortgage you must re-qualify medically for coverage and if you have had a change in health and now you don't qualify, you are left without coverage. With individual life you own the policy and it follows you... not your mortgage. With mortgage life if you do pass away, all the money goes directly to the bank not to your beneficiaries or loved ones as is the case with individual life. With mortgage insurance the bank will get only the amount outstanding on the mortgage itself, whereas with individual life insura...
published: 19 Jul 2011 -
PMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of It
Few aspects of financing a home confuse people more than the concept of PMI, which stands for Private Mortgage Insurance. It is insurance a mortgage company requires the borrower to purchase whenever there is less than a 20% down payment. Since a lower down payment could represent a higher risk of default, the borrower pays for this insurance to protect the mortgage company in case the borrower defaults by not paying the loan back. PMI is included in your monthly mortgage payment, however there are programs that allow the borrower to pay it up front or finance it instead. The actual amount you pay will vary based on your total loan amount and the percentage of your down payment. The higher your down payment between 0-20%, the lower your PMI rate will be. You can avoid PMI by putting 20% ...
published: 01 Nov 2014 -
How To Remove Mortgage Insurance (MI or PMI)
This video explains how to remove mortgage insurance from your conventional Fannie Mae or Freddie Mac mortgage. It includes notes on lender paid and borrower paid mortgage insurance. You can read the entire The Homeowners Protection Act of 1998 text here: http://www.federalreserve.gov/boarddocs/caletters/2004/0405/CA04-5Attach1.pdf
published: 25 Jun 2012 -
-
What is Lender's Mortgage Insurance (RAMS Simplifier)
Mortgage Insurance (Lender’s Mortgage Insurance or LMI) can allow a first time home buyer to get on the property ladder quicker by decreasing the deposit required to as little as 5%. Click to learn more with our Simplifier Videos and quick guide to Mortgage Insurance.
published: 19 Feb 2015 -
Mortgage Insurance 101
HomeOpeners®: Mortgage Insurance 101 A conventional mortgage in Canada normally requires a down payment of at least 20% of the purchase price. When homebuyers have less than 20% for a down payment, Mortgage Insurance allows them to secure a mortgage for their home purchase. Tailored Mortgage Insurance products from Genworth Canada can help you achieve the dream of homeownership sooner and with as little as 5% down. Saving for a down payment is always a great idea. Trouble is, depending on the area, prices may be rising faster than the savings are building up. And, as values rise, the dream home gets further out of reach. This is where mortgage default insurance – more commonly referred to as “mortgage insurance” - can help…by enabling qualified borrowers to purchase a home with as l...
published: 15 Sep 2014
Avoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATED
- Order: Reorder
- Duration: 4:17
- Updated: 09 Dec 2014
- views: 4601
October 11, 2013
In today's local housing market, a large share of Home Buyers will put less than 20% down. So the conversation about Mortgage Insurance begins...
October 11, 2013
In today's local housing market, a large share of Home Buyers will put less than 20% down. So the conversation about Mortgage Insurance begins.
But inevitably, many of those Buyers say "I don't want to pay PMI", or "I heard there were loans that didn't have mortgage insurance", or "I saw this ad online ..."
You get the picture.
So when it comes to paying monthly mortgage insurance on your home loan, whether you are buying a home, or refinancing your current mortgage loan, is there a way to avoid paying this extra cost that everyone wants to avoid?
You’ve decided to buy a brand new house, so you call me and ask, “What do I need to do to get started?" One of the first questions I’ll ask you, is “how much you plan to put down on this home purchase?”. If it's anything less than 20%, we may have to start talking about mortgage insurance.
But wait a second! You don’t want to pay mortgage insurance, right? You’ve heard about these loan programs, or saw online where you didn’t have to pay it … however, I’m here to tell you that if you are going to put less than 20% down on virtually ANY loan program out there, you will have to pay mortgage insurance or some variation thereof on your home loan.
Let me explain what mortgage insurance really is – and trust me, it’s not there to pay off your mortgage in the event that something happens to you.
For instance: if you default on your mortgage and don’t make your house payments, the bank will go to the mortgage insurance company and say they took a loss on your loan. The insurance company will then cut the bank a check for anything above 80% loan-to-value that you still owed on your loan balance.
Mortgage insurance is there to protect the lender – it’s basically a policy protecting the bank for the risk they took on you with a smaller down-payment.
How does mortgage insurance factor in when obtaining your loan?
If you happen to have military background and are applying for a VA loan, you technically don’t have to pay mortgage insurance monthly. However, they do charge a big funding fee, which can be up to 2% or even 3% of the loan amount, and this is added to your mortgage loan balance. You are still paying for it; it’s just financed into your payment over the next 30 years.
Here's how the major home loan programs treat mortgage insurance:
FHA does a combination of charging you an upfront fee and then a large amount in your monthly payment. So you end up paying for it on both sides of the deal, and the monthly portion will be there for the life of the loan.
USDA loans are very similar. They charge a larger amount upfront, added to your balance, and a smaller amount monthly.
Conventional – this is the most common type of home loan – and the only kind that gives you multiple options on how to pay mortgage insurance.
The traditional way is pay mortgage insurance is by paying it monthly, but there are methods to eliminate that completely.
Take a look at these examples:
Let’s say you are buying a house for $250K. You have excellent credit, good debt ratios, and you’re putting 5% down. You would be looking at a ballpark figure of $100 or $110 for monthly payments (no upfront fee).
You could do a “split premium”, where there’s an amount up-front, and a less on the monthly payment side.
However, if you don’t want to pay it monthly at all – because remember, you called me and said you don’t want that extra payment! – then you have the option to do a lump sum, also known as a “single premium”. This one-time payment at closing wipes the mortgage insurance out completely, meaning nothing more to pay monthly.
One of the most popular ways to get rid of paying monthly mortgage insurance is financing it. This would mean as long as we stay within the loan-to-value ratios, we can tack that mortgage insurance single-premium onto your balance. So instead of paying $110 a month, it may only raise your payment $15 or $20 a month – and again, you’d be done with it.
It’s not necessarily a bad thing to carry mortgage insurance! It's more about how you have to pay for it.
There are a lot of different options available…we can even work on helping you get the seller to pay for it. We will find the right plan for you, so you can still buy or refinance your home, without needing a 20% down-payment, or equity in your home.
Give me a call at 503.698.5801 or visit me at www.CallNewman.com and let’s go over the details of your next home loan. I’ll personalize your specific numbers and work with you to avoid that large monthly payment.
wn.com/Avoid Paying Monthly Mortgage Insurance On Your Home Loan Updated
October 11, 2013
In today's local housing market, a large share of Home Buyers will put less than 20% down. So the conversation about Mortgage Insurance begins.
But inevitably, many of those Buyers say "I don't want to pay PMI", or "I heard there were loans that didn't have mortgage insurance", or "I saw this ad online ..."
You get the picture.
So when it comes to paying monthly mortgage insurance on your home loan, whether you are buying a home, or refinancing your current mortgage loan, is there a way to avoid paying this extra cost that everyone wants to avoid?
You’ve decided to buy a brand new house, so you call me and ask, “What do I need to do to get started?" One of the first questions I’ll ask you, is “how much you plan to put down on this home purchase?”. If it's anything less than 20%, we may have to start talking about mortgage insurance.
But wait a second! You don’t want to pay mortgage insurance, right? You’ve heard about these loan programs, or saw online where you didn’t have to pay it … however, I’m here to tell you that if you are going to put less than 20% down on virtually ANY loan program out there, you will have to pay mortgage insurance or some variation thereof on your home loan.
Let me explain what mortgage insurance really is – and trust me, it’s not there to pay off your mortgage in the event that something happens to you.
For instance: if you default on your mortgage and don’t make your house payments, the bank will go to the mortgage insurance company and say they took a loss on your loan. The insurance company will then cut the bank a check for anything above 80% loan-to-value that you still owed on your loan balance.
Mortgage insurance is there to protect the lender – it’s basically a policy protecting the bank for the risk they took on you with a smaller down-payment.
How does mortgage insurance factor in when obtaining your loan?
If you happen to have military background and are applying for a VA loan, you technically don’t have to pay mortgage insurance monthly. However, they do charge a big funding fee, which can be up to 2% or even 3% of the loan amount, and this is added to your mortgage loan balance. You are still paying for it; it’s just financed into your payment over the next 30 years.
Here's how the major home loan programs treat mortgage insurance:
FHA does a combination of charging you an upfront fee and then a large amount in your monthly payment. So you end up paying for it on both sides of the deal, and the monthly portion will be there for the life of the loan.
USDA loans are very similar. They charge a larger amount upfront, added to your balance, and a smaller amount monthly.
Conventional – this is the most common type of home loan – and the only kind that gives you multiple options on how to pay mortgage insurance.
The traditional way is pay mortgage insurance is by paying it monthly, but there are methods to eliminate that completely.
Take a look at these examples:
Let’s say you are buying a house for $250K. You have excellent credit, good debt ratios, and you’re putting 5% down. You would be looking at a ballpark figure of $100 or $110 for monthly payments (no upfront fee).
You could do a “split premium”, where there’s an amount up-front, and a less on the monthly payment side.
However, if you don’t want to pay it monthly at all – because remember, you called me and said you don’t want that extra payment! – then you have the option to do a lump sum, also known as a “single premium”. This one-time payment at closing wipes the mortgage insurance out completely, meaning nothing more to pay monthly.
One of the most popular ways to get rid of paying monthly mortgage insurance is financing it. This would mean as long as we stay within the loan-to-value ratios, we can tack that mortgage insurance single-premium onto your balance. So instead of paying $110 a month, it may only raise your payment $15 or $20 a month – and again, you’d be done with it.
It’s not necessarily a bad thing to carry mortgage insurance! It's more about how you have to pay for it.
There are a lot of different options available…we can even work on helping you get the seller to pay for it. We will find the right plan for you, so you can still buy or refinance your home, without needing a 20% down-payment, or equity in your home.
Give me a call at 503.698.5801 or visit me at www.CallNewman.com and let’s go over the details of your next home loan. I’ll personalize your specific numbers and work with you to avoid that large monthly payment.
- published: 09 Dec 2014
- views: 4601
What IS Mortgage Insurance?
- Order: Reorder
- Duration: 4:30
- Updated: 27 Mar 2012
- views: 1682
One of the more confusing aspects of Buying your home is the Mortgage Insurance Premium and what it's for.
One of the more confusing aspects of Buying your home is the Mortgage Insurance Premium and what it's for.
wn.com/What Is Mortgage Insurance
One of the more confusing aspects of Buying your home is the Mortgage Insurance Premium and what it's for.
- published: 27 Mar 2012
- views: 1682
What is mortgage insurance?
- Order: Reorder
- Duration: 1:57
- Updated: 02 Apr 2013
- views: 4651
Ever wondered what may happen to your home and your loved ones should an unfortunate event occur to you? Mortgage insurance puts these concerns to rest by prote...
Ever wondered what may happen to your home and your loved ones should an unfortunate event occur to you? Mortgage insurance puts these concerns to rest by protecting your family from the financial burdens resulting from such an occasion.
For more details, visit http://www.ocbc.com/personal-banking/Insurance/home-mortgage-insurance.html
wn.com/What Is Mortgage Insurance
Ever wondered what may happen to your home and your loved ones should an unfortunate event occur to you? Mortgage insurance puts these concerns to rest by protecting your family from the financial burdens resulting from such an occasion.
For more details, visit http://www.ocbc.com/personal-banking/Insurance/home-mortgage-insurance.html
- published: 02 Apr 2013
- views: 4651
Selling Mortgage Protection Insurance Made Simple
- Order: Reorder
- Duration: 24:14
- Updated: 03 Apr 2014
- views: 8035
If you are working New Homeowner Phone Data, Mortgage Protection Direct Mail Leads, or prospecting Home Owners, this video is a must see. Learn a proven, and s...
If you are working New Homeowner Phone Data, Mortgage Protection Direct Mail Leads, or prospecting Home Owners, this video is a must see. Learn a proven, and simplistic selling system for presenting and selling Mortgage Protection Insurance. This video is excellent for new agents. Get all my videos, scripts, and training documents for FREE by following this link. http://www.protectthehouse.com/freetraining.php
wn.com/Selling Mortgage Protection Insurance Made Simple
If you are working New Homeowner Phone Data, Mortgage Protection Direct Mail Leads, or prospecting Home Owners, this video is a must see. Learn a proven, and simplistic selling system for presenting and selling Mortgage Protection Insurance. This video is excellent for new agents. Get all my videos, scripts, and training documents for FREE by following this link. http://www.protectthehouse.com/freetraining.php
- published: 03 Apr 2014
- views: 8035
Mortgage Insurance Vs Individual Life Insurance
- Order: Reorder
- Duration: 4:35
- Updated: 19 Jul 2011
- views: 6111
What is the difference between mortgage insurance and individual life insurance?
Mortgage life is owned by the bank. It is put into place by the bank and i...
What is the difference between mortgage insurance and individual life insurance?
Mortgage life is owned by the bank. It is put into place by the bank and is there to protect the banks balance sheet rather than your family. Each and every time you move or refinance your mortgage you must re-qualify medically for coverage and if you have had a change in health and now you don't qualify, you are left without coverage. With individual life you own the policy and it follows you... not your mortgage.
With mortgage life if you do pass away, all the money goes directly to the bank not to your beneficiaries or loved ones as is the case with individual life.
With mortgage insurance the bank will get only the amount outstanding on the mortgage itself, whereas with individual life insurance the full amount of the initial insurance policy goes to YOUR beneficiaries... not just the amount left outstanding on the mortgage! Your beneficiaries can choose what to do with the money.
Lastly... individual life insurance is based on your health rather than a general health... therefore... it's typically cheaper!
Another good piece of information is a documentary done on CBC Marketplace in 2008 called "In Denial." The documentary shows the viewer how once you sign the paperwork to buy your house you are asked if you want to protect your new investment. If the answer is yes, and we suspect it would be, you are asked to sign here. You skim a solid page of small print and thinking you are healthy you sign on the dotted line. This documentary goes on to show how few people are paid out under these polices and some of the issues that can arise. (Check it out at http://www.cbc.ca/marketplace/in_denial/)
wn.com/Mortgage Insurance Vs Individual Life Insurance
What is the difference between mortgage insurance and individual life insurance?
Mortgage life is owned by the bank. It is put into place by the bank and is there to protect the banks balance sheet rather than your family. Each and every time you move or refinance your mortgage you must re-qualify medically for coverage and if you have had a change in health and now you don't qualify, you are left without coverage. With individual life you own the policy and it follows you... not your mortgage.
With mortgage life if you do pass away, all the money goes directly to the bank not to your beneficiaries or loved ones as is the case with individual life.
With mortgage insurance the bank will get only the amount outstanding on the mortgage itself, whereas with individual life insurance the full amount of the initial insurance policy goes to YOUR beneficiaries... not just the amount left outstanding on the mortgage! Your beneficiaries can choose what to do with the money.
Lastly... individual life insurance is based on your health rather than a general health... therefore... it's typically cheaper!
Another good piece of information is a documentary done on CBC Marketplace in 2008 called "In Denial." The documentary shows the viewer how once you sign the paperwork to buy your house you are asked if you want to protect your new investment. If the answer is yes, and we suspect it would be, you are asked to sign here. You skim a solid page of small print and thinking you are healthy you sign on the dotted line. This documentary goes on to show how few people are paid out under these polices and some of the issues that can arise. (Check it out at http://www.cbc.ca/marketplace/in_denial/)
- published: 19 Jul 2011
- views: 6111
PMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of It
- Order: Reorder
- Duration: 3:36
- Updated: 01 Nov 2014
- views: 5554
Few aspects of financing a home confuse people more than the concept of PMI, which stands for Private Mortgage Insurance. It is insurance a mortgage company req...
Few aspects of financing a home confuse people more than the concept of PMI, which stands for Private Mortgage Insurance. It is insurance a mortgage company requires the borrower to purchase whenever there is less than a 20% down payment. Since a lower down payment could represent a higher risk of default, the borrower pays for this insurance to protect the mortgage company in case the borrower defaults by not paying the loan back.
PMI is included in your monthly mortgage payment, however there are programs that allow the borrower to pay it up front or finance it instead. The actual amount you pay will vary based on your total loan amount and the percentage of your down payment. The higher your down payment between 0-20%, the lower your PMI rate will be. You can avoid PMI by putting 20% or more down on the loan, paying it upfront at closing, or as we've seen in some markets, separating the loan amount into 2 loans (known as piggyback mortgages).
Depending on the type of loan, PMI does not last forever. If you have a conventional loan, you can contact your mortgage company and request they remove the PMI once you reach 20% equity in your home. So when you see you have paid your loan balance down to 80% of the purchase price (or refinance value), contact them. If you feel the value of the home has risen enough to where you may now have 20% equity, then you can ask them to remove it, although you may have to pay for an appraisal to prove it.
It's a different story if you have an FHA loan. For any FHA loans after April 1st, 2013 with less than 10% down, PMI stays for the lifetime of the loan. So the only way to remove it in that instance is to refinance into a conventional mortgage or sell the home and start a new loan for the new property. FHA loans started before that date will have PMI that automatically falls off when you reach 22% equity or you can ask for it to be removed at 20% equity like with conventional loans.
The good news is that for many people, PMI paid on the loan throughout the year is tax deductible as long as your income is within certain limits (currently 110k for a married couple, 55k for an individual). PMI also helps many people get their foot in the door to homeownership who would otherwise not be able to save such a large sum for a down payment. If you don't want to pay PMI, you'll need to have a 20% down payment.
If you'd like to learn more or start the purchase of buying or selling a home, contact me. I have a great lender that can help explain more. You can reach me at 610-310-6408 or at www.MarielSells.com!
wn.com/Pmi (Private Mortgage Insurance) Understanding, Avoiding Getting Rid Of It
Few aspects of financing a home confuse people more than the concept of PMI, which stands for Private Mortgage Insurance. It is insurance a mortgage company requires the borrower to purchase whenever there is less than a 20% down payment. Since a lower down payment could represent a higher risk of default, the borrower pays for this insurance to protect the mortgage company in case the borrower defaults by not paying the loan back.
PMI is included in your monthly mortgage payment, however there are programs that allow the borrower to pay it up front or finance it instead. The actual amount you pay will vary based on your total loan amount and the percentage of your down payment. The higher your down payment between 0-20%, the lower your PMI rate will be. You can avoid PMI by putting 20% or more down on the loan, paying it upfront at closing, or as we've seen in some markets, separating the loan amount into 2 loans (known as piggyback mortgages).
Depending on the type of loan, PMI does not last forever. If you have a conventional loan, you can contact your mortgage company and request they remove the PMI once you reach 20% equity in your home. So when you see you have paid your loan balance down to 80% of the purchase price (or refinance value), contact them. If you feel the value of the home has risen enough to where you may now have 20% equity, then you can ask them to remove it, although you may have to pay for an appraisal to prove it.
It's a different story if you have an FHA loan. For any FHA loans after April 1st, 2013 with less than 10% down, PMI stays for the lifetime of the loan. So the only way to remove it in that instance is to refinance into a conventional mortgage or sell the home and start a new loan for the new property. FHA loans started before that date will have PMI that automatically falls off when you reach 22% equity or you can ask for it to be removed at 20% equity like with conventional loans.
The good news is that for many people, PMI paid on the loan throughout the year is tax deductible as long as your income is within certain limits (currently 110k for a married couple, 55k for an individual). PMI also helps many people get their foot in the door to homeownership who would otherwise not be able to save such a large sum for a down payment. If you don't want to pay PMI, you'll need to have a 20% down payment.
If you'd like to learn more or start the purchase of buying or selling a home, contact me. I have a great lender that can help explain more. You can reach me at 610-310-6408 or at www.MarielSells.com!
- published: 01 Nov 2014
- views: 5554
How To Remove Mortgage Insurance (MI or PMI)
- Order: Reorder
- Duration: 5:11
- Updated: 25 Jun 2012
- views: 14863
This video explains how to remove mortgage insurance from your conventional Fannie Mae or Freddie Mac mortgage. It includes notes on lender paid and borrower p...
This video explains how to remove mortgage insurance from your conventional Fannie Mae or Freddie Mac mortgage. It includes notes on lender paid and borrower paid mortgage insurance. You can read the entire The Homeowners Protection Act of 1998 text here: http://www.federalreserve.gov/boarddocs/caletters/2004/0405/CA04-5Attach1.pdf
wn.com/How To Remove Mortgage Insurance (Mi Or Pmi)
This video explains how to remove mortgage insurance from your conventional Fannie Mae or Freddie Mac mortgage. It includes notes on lender paid and borrower paid mortgage insurance. You can read the entire The Homeowners Protection Act of 1998 text here: http://www.federalreserve.gov/boarddocs/caletters/2004/0405/CA04-5Attach1.pdf
- published: 25 Jun 2012
- views: 14863
Private Mortgage Insurance Explained
- Order: Reorder
- Duration: 5:13
- Updated: 22 Mar 2012
- views: 1237
Private Mortgage Insurance Explained
Private Mortgage Insurance Explained
wn.com/Private Mortgage Insurance Explained
What is Lender's Mortgage Insurance (RAMS Simplifier)
- Order: Reorder
- Duration: 1:12
- Updated: 19 Feb 2015
- views: 919
Mortgage Insurance (Lender’s Mortgage Insurance or LMI) can allow a first time home buyer to get on the property ladder quicker by decreasing the deposit requir...
Mortgage Insurance (Lender’s Mortgage Insurance or LMI) can allow a first time home buyer to get on the property ladder quicker by decreasing the deposit required to as little as 5%. Click to learn more with our Simplifier Videos and quick guide to Mortgage Insurance.
wn.com/What Is Lender's Mortgage Insurance (Rams Simplifier)
Mortgage Insurance (Lender’s Mortgage Insurance or LMI) can allow a first time home buyer to get on the property ladder quicker by decreasing the deposit required to as little as 5%. Click to learn more with our Simplifier Videos and quick guide to Mortgage Insurance.
- published: 19 Feb 2015
- views: 919
Mortgage Insurance 101
- Order: Reorder
- Duration: 2:01
- Updated: 15 Sep 2014
- views: 5884
HomeOpeners®: Mortgage Insurance 101
A conventional mortgage in Canada normally requires a down payment of at least 20% of the purchase price. When homebuyer...
HomeOpeners®: Mortgage Insurance 101
A conventional mortgage in Canada normally requires a down payment of at least 20% of the purchase price. When homebuyers have less than 20% for a down payment, Mortgage Insurance allows them to secure a mortgage for their home purchase.
Tailored Mortgage Insurance products from Genworth Canada can help you achieve the dream of homeownership sooner and with as little as 5% down.
Saving for a down payment is always a great idea. Trouble is, depending on the area, prices may be rising faster than the savings are building up. And, as values rise, the dream home gets further out of reach.
This is where mortgage default insurance – more commonly referred to as “mortgage insurance” - can help…by enabling qualified borrowers to purchase a home with as little as a five per cent down payment.
If the right home for you has a purchase price of $300K, then lenders will normally require you to provide a down payment of at least $60K. With Mortgage Insurance, you can secure a mortgage with as little as $15K down.
Mortgage insurance is a win-win situation for homebuyers and lenders. Lenders rely on it to protect themselves from financial losses in case a loan is not repaid. Because lenders have this protection, they are able to offer loans with smaller down payments, provided credit and legal requirements are met. For homebuyers, this means access to homeownership sooner at a competitive rate, and with a lower down payment.
Know your options and ask your mortgage professional how Genworth Canada can help you realize the dream of homeownership sooner.
Homebuyer resources: http://homeownership.ca
http://genworth.ca/
wn.com/Mortgage Insurance 101
HomeOpeners®: Mortgage Insurance 101
A conventional mortgage in Canada normally requires a down payment of at least 20% of the purchase price. When homebuyers have less than 20% for a down payment, Mortgage Insurance allows them to secure a mortgage for their home purchase.
Tailored Mortgage Insurance products from Genworth Canada can help you achieve the dream of homeownership sooner and with as little as 5% down.
Saving for a down payment is always a great idea. Trouble is, depending on the area, prices may be rising faster than the savings are building up. And, as values rise, the dream home gets further out of reach.
This is where mortgage default insurance – more commonly referred to as “mortgage insurance” - can help…by enabling qualified borrowers to purchase a home with as little as a five per cent down payment.
If the right home for you has a purchase price of $300K, then lenders will normally require you to provide a down payment of at least $60K. With Mortgage Insurance, you can secure a mortgage with as little as $15K down.
Mortgage insurance is a win-win situation for homebuyers and lenders. Lenders rely on it to protect themselves from financial losses in case a loan is not repaid. Because lenders have this protection, they are able to offer loans with smaller down payments, provided credit and legal requirements are met. For homebuyers, this means access to homeownership sooner at a competitive rate, and with a lower down payment.
Know your options and ask your mortgage professional how Genworth Canada can help you realize the dream of homeownership sooner.
Homebuyer resources: http://homeownership.ca
http://genworth.ca/
- published: 15 Sep 2014
- views: 5884
-
Private Mortgage Insurance YouTube
published: 08 Nov 2016 -
-
-
What Is Lenders Mortgage Insurance?
In this 40 second video, Anthony Webb explains Lenders Mortgage Insurance (LMI). Produced by Cariad Creative – www.cariadcreative.com
published: 07 Nov 2016 -
Mortgage Insurance Getting the Facts
video transcript There are two types of mortgage insurance that you should know about. There is mortgage insurance that protects the lender (the bank), and there is mortgage insurance that protects the borrower (the homebuyer). In Canada, mortgage insurance that protects the bank is offered by the CMHC, the Canada Mortgage and Housing Corporation. The CMHC allows buyers to purchase a home without having saved up a down-payment worth 25% of the cost of the house. If you are planning on purchasing a house, but do not have the 25% down payment, your lender will arrange everything with the CMHC. You won't have to deal with the CMHC yourself. However, it is wise to check out their website because they have valuable information on many aspects of housing. In America, the function of the CMH...
published: 07 Nov 2016 -
When Can You Cancel Mortgage Insurance
published: 07 Nov 2016 -
What is Private Mortgage Insurance
published: 07 Nov 2016 -
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney360p
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published: 07 Nov 2016 -
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published: 07 Nov 2016 -
mortgage life insurance/ life insurance calculator
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published: 07 Nov 2016
Private Mortgage Insurance YouTube
- Order: Reorder
- Duration: 0:19
- Updated: 08 Nov 2016
- views: 1
- published: 08 Nov 2016
- views: 1
Answers to All Your Questions Regarding Loan and Mortgage Protection Insurance
- Order: Reorder
- Duration: 4:27
- Updated: 08 Nov 2016
- views: 0
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney
- Order: Reorder
- Duration: 0:19
- Updated: 08 Nov 2016
- views: 0
What Is Lenders Mortgage Insurance?
- Order: Reorder
- Duration: 0:47
- Updated: 07 Nov 2016
- views: 12
In this 40 second video, Anthony Webb explains Lenders Mortgage Insurance (LMI). Produced by Cariad Creative – www.cariadcreative.com
In this 40 second video, Anthony Webb explains Lenders Mortgage Insurance (LMI). Produced by Cariad Creative – www.cariadcreative.com
wn.com/What Is Lenders Mortgage Insurance
In this 40 second video, Anthony Webb explains Lenders Mortgage Insurance (LMI). Produced by Cariad Creative – www.cariadcreative.com
- published: 07 Nov 2016
- views: 12
Mortgage Insurance Getting the Facts
- Order: Reorder
- Duration: 4:40
- Updated: 07 Nov 2016
- views: 0
video transcript
There are two types of mortgage insurance that you should know about. There is mortgage insurance that protects the lender (the bank), and t...
video transcript
There are two types of mortgage insurance that you should know about. There is mortgage insurance that protects the lender (the bank), and there is mortgage insurance that protects the borrower (the homebuyer).
In Canada, mortgage insurance that protects the bank is offered by the CMHC, the Canada Mortgage and Housing Corporation. The CMHC allows buyers to purchase a home without having saved up a down-payment worth 25% of the cost of the house. If you are planning on purchasing a house, but do not have the 25% down payment, your lender will arrange everything with the CMHC. You won't have to deal with the CMHC yourself. However, it is wise to check out their website because they have valuable information on many aspects of housing.
In America, the function of the CMHC is performed by various private mortgage insurance companies. They often belong to the Mortgage Insurance Companies of America, or MICA.
The second kind of mortgage insurance is insurance that you can buy at the time that you get your mortgage. It is a kind of life insurance that is worth the balance of your mortgage. If you buy this insurance, you are making sure that if you die before your mortgage gets paid off, your dependants will not have the burden of repaying your mortgage: they will simply inherit the property. If you have a joint mortgage, the other party will receive full ownership of the house and not longer have to make any payments if you die. This also works in reverse: if your partner dies, you will receive the house.
Mortgage insurance to protect your beneficiaries is often offered by the lending institution that provides your mortgage. You have the offer of taking their insurance and you have the offer of declining it. It is wise to insure your mortgage, though you might not want to insure with your lending institution.
Before you get your mortgage, check out other insurance agencies to see what kind of competitive mortgage insurance rates are available. You will need to know that you have insurance before you go in to meet with your bank or lending institution. Your bank will probably insist that if you want their insurance you have to sign on the same day you finish completing your mortgage. Doing a little research in advance will help you establish if your bank is offering competitive rates. If your bank is offering competitive rates, it might be easier to insure through the bank so that you only have one monthly payment to worry about. Your mortgage insurance payment, if taken through the lending institution, will be bundled in with your mortgage payment.
If you move, your mortgage insurance cannot be taken with you: it has no portability. You will have to renegotiate your mortgage insurance as you move.
Your mortgage insurance payments will remain the same for the duration of your mortgage, even as the balance of the mortgage decreases.
To sign on for mortgage insurance, there is no physical examination. There is simply a form to fill out detailing recent medical history. You can often be automatically approved right in the office. If you have a mild health condition, sometimes it will take a little more paperwork, but you will often be approved within the week.
Because there is no physical at the lending institution, this means that smokers can get better rates on their insurance. Your bank bundles the rates for non-tobacco users and tobacco users together, and averages them out. Smokers will probably not find a better rate than their lending institution offers. Non-smokers, however, might be able to find a better rate at an independent insurance agency.
If you are the sole person in a mortgage, ask the bank who the beneficiary of your mortgage insurance will be. Different insurance companies have different policies. Often, if you choose to be insured at the lending institution, the bank is the beneficiary. This means that the mortgage for the house will automatically be paid off, and the beneficiary of the house will simply receive the house. If you choose an independent insurance agency, the spouse or next-of-kin is often named beneficiary, which means that they will have the option of immediately paying off the house, or of taking the money and continuing to make the monthly payments of the mortgage.
Like all insurance, mortgage insurance is a gamble. It is something that you buy for peace of mind, and something that you pay money for that you hope you will never use.
wn.com/Mortgage Insurance Getting The Facts
video transcript
There are two types of mortgage insurance that you should know about. There is mortgage insurance that protects the lender (the bank), and there is mortgage insurance that protects the borrower (the homebuyer).
In Canada, mortgage insurance that protects the bank is offered by the CMHC, the Canada Mortgage and Housing Corporation. The CMHC allows buyers to purchase a home without having saved up a down-payment worth 25% of the cost of the house. If you are planning on purchasing a house, but do not have the 25% down payment, your lender will arrange everything with the CMHC. You won't have to deal with the CMHC yourself. However, it is wise to check out their website because they have valuable information on many aspects of housing.
In America, the function of the CMHC is performed by various private mortgage insurance companies. They often belong to the Mortgage Insurance Companies of America, or MICA.
The second kind of mortgage insurance is insurance that you can buy at the time that you get your mortgage. It is a kind of life insurance that is worth the balance of your mortgage. If you buy this insurance, you are making sure that if you die before your mortgage gets paid off, your dependants will not have the burden of repaying your mortgage: they will simply inherit the property. If you have a joint mortgage, the other party will receive full ownership of the house and not longer have to make any payments if you die. This also works in reverse: if your partner dies, you will receive the house.
Mortgage insurance to protect your beneficiaries is often offered by the lending institution that provides your mortgage. You have the offer of taking their insurance and you have the offer of declining it. It is wise to insure your mortgage, though you might not want to insure with your lending institution.
Before you get your mortgage, check out other insurance agencies to see what kind of competitive mortgage insurance rates are available. You will need to know that you have insurance before you go in to meet with your bank or lending institution. Your bank will probably insist that if you want their insurance you have to sign on the same day you finish completing your mortgage. Doing a little research in advance will help you establish if your bank is offering competitive rates. If your bank is offering competitive rates, it might be easier to insure through the bank so that you only have one monthly payment to worry about. Your mortgage insurance payment, if taken through the lending institution, will be bundled in with your mortgage payment.
If you move, your mortgage insurance cannot be taken with you: it has no portability. You will have to renegotiate your mortgage insurance as you move.
Your mortgage insurance payments will remain the same for the duration of your mortgage, even as the balance of the mortgage decreases.
To sign on for mortgage insurance, there is no physical examination. There is simply a form to fill out detailing recent medical history. You can often be automatically approved right in the office. If you have a mild health condition, sometimes it will take a little more paperwork, but you will often be approved within the week.
Because there is no physical at the lending institution, this means that smokers can get better rates on their insurance. Your bank bundles the rates for non-tobacco users and tobacco users together, and averages them out. Smokers will probably not find a better rate than their lending institution offers. Non-smokers, however, might be able to find a better rate at an independent insurance agency.
If you are the sole person in a mortgage, ask the bank who the beneficiary of your mortgage insurance will be. Different insurance companies have different policies. Often, if you choose to be insured at the lending institution, the bank is the beneficiary. This means that the mortgage for the house will automatically be paid off, and the beneficiary of the house will simply receive the house. If you choose an independent insurance agency, the spouse or next-of-kin is often named beneficiary, which means that they will have the option of immediately paying off the house, or of taking the money and continuing to make the monthly payments of the mortgage.
Like all insurance, mortgage insurance is a gamble. It is something that you buy for peace of mind, and something that you pay money for that you hope you will never use.
- published: 07 Nov 2016
- views: 0
When Can You Cancel Mortgage Insurance
- Order: Reorder
- Duration: 1:25
- Updated: 07 Nov 2016
- views: 0
- published: 07 Nov 2016
- views: 0
What is Private Mortgage Insurance
- Order: Reorder
- Duration: 1:22
- Updated: 07 Nov 2016
- views: 0
- published: 07 Nov 2016
- views: 0
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney360p
- Order: Reorder
- Duration: 0:19
- Updated: 07 Nov 2016
- views: 0
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney360p
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- published: 07 Nov 2016
- views: 0
life insurance calculator/mortgage life insurance
- Order: Reorder
- Duration: 0:17
- Updated: 07 Nov 2016
- views: 1
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wn.com/Life Insurance Calculator Mortgage Life Insurance
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- published: 07 Nov 2016
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mortgage life insurance/ life insurance calculator
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- Duration: 0:17
- Updated: 07 Nov 2016
- views: 1
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- published: 07 Nov 2016
- views: 1
-
The Money Pros: Private Mortgage Insurance
Homestar Mortgage Vice President Steve Tetzner offers his expertise.
published: 12 Oct 2016 -
Mortgage insurance, purchase price vs. appraised value and more CMHC announcements
Recorded live on June 11, 2014 On this week's episode we explore mortgage insurance including why you might need mortgage insurance and how mortgage insurance works. CMHC made some more announcements and we break them down for you. PLUS: Learn about a client who waived conditions on the purchase of a new home only to learn that they may have overpaid. What was the impact to their mortgage? Watch and find out. Make sure to check out http://www.mlenow.ca Follow on Twitter: @dylangallagher @mlenowCanada Highlights: 00:06 - Episode summary 0:56 - Intro 1:58 - Question #1: Why do you need mortgage insurance? 6:57 - Question #2: How does mortgage insurance work? 10:29 - Real life example 15:20 - Did you know? 12:29 - More announcements from CMHC 19:39 - sign off
published: 11 Jun 2014 -
Mortgage insurance, renewal surprise and CMHC making changes
Recorded live on April 30, 2014 This week Dylan answers questions about mortgage insurance and the changes announced by CMHC. PLUS: Dylan gives a real life example of how someone saved money picking up the phone and talking with their bank before signing a renewal. Make sure to check out http://www.mlenow.ca Follow on Twitter: @dylangallagher @mlenowCanada Highlights: 00:05 - Episode summary 0:57 - Intro 3:01 -- Question #1: What is mortgage insurance? 3:36 -- Question #2: Are commercial mortgages and business loans insured? 7:22 -- Real life example: a mortgage renewal surprise 10:02 -- What's happening in the market? CMHC changes. 20:00 -- Wrapping up 21:08 -- sign off
published: 30 Apr 2014 -
YPE 140117 Your Property Empire Lenders Mortgage Insurance Chris Gray Bridget Sakr Genworth
YPE 140117 Your Property Empire - Lenders Mortgage Insurance - Chris Gray - Bridget Sakr, Genworth - Sky News Business What is Lenders Mortgage Insurance (LMI)? How can lenders mortgage insurance help first home buyers? Would you use lenders mortgage insurance?
published: 18 Jan 2014 -
Mortgage Insurance Committee Board Meeting - April 10, 2014
Archived webcast of the Board meeting The Mortgage Insurance Committee
published: 04 Jun 2014 -
Mortgage Insurance Committee - May 8, 2014
Archived webcast of the Board meeting The Mortgage Insurance Committee
published: 04 Jun 2014 -
2016-07-28 Thursday Training Call covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
Mortgage Coach's Compliance and Support Specialist Lori Lytle hosts the Thursday Q&A; with Mortgage Coach's Training Specialist Star Johnson covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
published: 28 Jul 2016 -
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance LOOKING FOR A MORTGAGE CALCULATOR- COPY AND PASTE THE LINK BELOW IN YOUR WEB BROWSER SO YOU CAN DETERMINE A MORTGAGE PAYMENT. http://ccook.mortgagemapp.com If you are looking for a home loan please reach out to me! Craig Cook - 856-986-7896 www.craigcookloans.com NMLS # 114593
published: 04 Jun 2014 -
Refinancing Mortgage Insurance A New Look At An Old Concept
Refinancing Mortgage Insurance A New Look At An Old Concept
published: 20 Mar 2014
The Money Pros: Private Mortgage Insurance
- Order: Reorder
- Duration: 22:37
- Updated: 12 Oct 2016
- views: 28
Homestar Mortgage Vice President Steve Tetzner offers his expertise.
- published: 12 Oct 2016
- views: 28
Mortgage insurance, purchase price vs. appraised value and more CMHC announcements
- Order: Reorder
- Duration: 20:37
- Updated: 11 Jun 2014
- views: 503
Recorded live on June 11, 2014
On this week's episode we explore mortgage insurance including why you might need mortgage insurance and how mortgage insurance ...
Recorded live on June 11, 2014
On this week's episode we explore mortgage insurance including why you might need mortgage insurance and how mortgage insurance works. CMHC made some more announcements and we break them down for you.
PLUS: Learn about a client who waived conditions on the purchase of a new home only to learn that they may have overpaid. What was the impact to their mortgage? Watch and find out.
Make sure to check out http://www.mlenow.ca
Follow on Twitter:
@dylangallagher
@mlenowCanada
Highlights:
00:06 - Episode summary
0:56 - Intro
1:58 - Question #1: Why do you need mortgage insurance?
6:57 - Question #2: How does mortgage insurance work?
10:29 - Real life example
15:20 - Did you know?
12:29 - More announcements from CMHC
19:39 - sign off
wn.com/Mortgage Insurance, Purchase Price Vs. Appraised Value And More Cmhc Announcements
Recorded live on June 11, 2014
On this week's episode we explore mortgage insurance including why you might need mortgage insurance and how mortgage insurance works. CMHC made some more announcements and we break them down for you.
PLUS: Learn about a client who waived conditions on the purchase of a new home only to learn that they may have overpaid. What was the impact to their mortgage? Watch and find out.
Make sure to check out http://www.mlenow.ca
Follow on Twitter:
@dylangallagher
@mlenowCanada
Highlights:
00:06 - Episode summary
0:56 - Intro
1:58 - Question #1: Why do you need mortgage insurance?
6:57 - Question #2: How does mortgage insurance work?
10:29 - Real life example
15:20 - Did you know?
12:29 - More announcements from CMHC
19:39 - sign off
- published: 11 Jun 2014
- views: 503
Mortgage insurance, renewal surprise and CMHC making changes
- Order: Reorder
- Duration: 21:15
- Updated: 30 Apr 2014
- views: 671
Recorded live on April 30, 2014
This week Dylan answers questions about mortgage insurance and the changes announced by CMHC.
PLUS: Dylan gives a real life ex...
Recorded live on April 30, 2014
This week Dylan answers questions about mortgage insurance and the changes announced by CMHC.
PLUS: Dylan gives a real life example of how someone saved money picking up the phone and talking with their bank before signing a renewal.
Make sure to check out http://www.mlenow.ca
Follow on Twitter:
@dylangallagher
@mlenowCanada
Highlights:
00:05 - Episode summary
0:57 - Intro
3:01 -- Question #1: What is mortgage insurance?
3:36 -- Question #2: Are commercial mortgages and business loans insured?
7:22 -- Real life example: a mortgage renewal surprise
10:02 -- What's happening in the market? CMHC changes.
20:00 -- Wrapping up
21:08 -- sign off
wn.com/Mortgage Insurance, Renewal Surprise And Cmhc Making Changes
Recorded live on April 30, 2014
This week Dylan answers questions about mortgage insurance and the changes announced by CMHC.
PLUS: Dylan gives a real life example of how someone saved money picking up the phone and talking with their bank before signing a renewal.
Make sure to check out http://www.mlenow.ca
Follow on Twitter:
@dylangallagher
@mlenowCanada
Highlights:
00:05 - Episode summary
0:57 - Intro
3:01 -- Question #1: What is mortgage insurance?
3:36 -- Question #2: Are commercial mortgages and business loans insured?
7:22 -- Real life example: a mortgage renewal surprise
10:02 -- What's happening in the market? CMHC changes.
20:00 -- Wrapping up
21:08 -- sign off
- published: 30 Apr 2014
- views: 671
YPE 140117 Your Property Empire Lenders Mortgage Insurance Chris Gray Bridget Sakr Genworth
- Order: Reorder
- Duration: 30:01
- Updated: 18 Jan 2014
- views: 554
YPE 140117 Your Property Empire - Lenders Mortgage Insurance - Chris Gray - Bridget Sakr, Genworth - Sky News Business
What is Lenders Mortgage Insurance (LMI)...
YPE 140117 Your Property Empire - Lenders Mortgage Insurance - Chris Gray - Bridget Sakr, Genworth - Sky News Business
What is Lenders Mortgage Insurance (LMI)?
How can lenders mortgage insurance help first home buyers?
Would you use lenders mortgage insurance?
wn.com/Ype 140117 Your Property Empire Lenders Mortgage Insurance Chris Gray Bridget Sakr Genworth
YPE 140117 Your Property Empire - Lenders Mortgage Insurance - Chris Gray - Bridget Sakr, Genworth - Sky News Business
What is Lenders Mortgage Insurance (LMI)?
How can lenders mortgage insurance help first home buyers?
Would you use lenders mortgage insurance?
- published: 18 Jan 2014
- views: 554
Mortgage Insurance Committee Board Meeting - April 10, 2014
- Order: Reorder
- Duration: 25:53
- Updated: 04 Jun 2014
- views: 28
Archived webcast of the Board meeting The Mortgage Insurance Committee
- published: 04 Jun 2014
- views: 28
Mortgage Insurance Committee - May 8, 2014
- Order: Reorder
- Duration: 21:33
- Updated: 04 Jun 2014
- views: 20
Archived webcast of the Board meeting The Mortgage Insurance Committee
- published: 04 Jun 2014
- views: 20
2016-07-28 Thursday Training Call covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
- Order: Reorder
- Duration: 55:56
- Updated: 28 Jul 2016
- views: 53
Mortgage Coach's Compliance and Support Specialist Lori Lytle hosts the Thursday Q&A; with Mortgage Coach's Training Specialist Star Johnson covering Mortgage In...
Mortgage Coach's Compliance and Support Specialist Lori Lytle hosts the Thursday Q&A; with Mortgage Coach's Training Specialist Star Johnson covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
wn.com/2016 07 28 Thursday Training Call Covering Mortgage Insurance, Reinvestment Strategies And Edge Live
Mortgage Coach's Compliance and Support Specialist Lori Lytle hosts the Thursday Q&A; with Mortgage Coach's Training Specialist Star Johnson covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
- published: 28 Jul 2016
- views: 53
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
- Order: Reorder
- Duration: 21:16
- Updated: 04 Jun 2014
- views: 87
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
LOOKING FOR A MORTGAGE CALCULATOR- COPY AND PASTE THE LINK BELOW IN YOUR WEB BROWSE...
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
LOOKING FOR A MORTGAGE CALCULATOR- COPY AND PASTE THE LINK BELOW IN YOUR WEB BROWSER SO YOU CAN DETERMINE A MORTGAGE PAYMENT.
http://ccook.mortgagemapp.com
If you are looking for a home loan please reach out to me!
Craig Cook - 856-986-7896
www.craigcookloans.com
NMLS # 114593
wn.com/Mortgage Minutes How To Calculate A House Payment With Mortgage Insurance
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
LOOKING FOR A MORTGAGE CALCULATOR- COPY AND PASTE THE LINK BELOW IN YOUR WEB BROWSER SO YOU CAN DETERMINE A MORTGAGE PAYMENT.
http://ccook.mortgagemapp.com
If you are looking for a home loan please reach out to me!
Craig Cook - 856-986-7896
www.craigcookloans.com
NMLS # 114593
- published: 04 Jun 2014
- views: 87
Refinancing Mortgage Insurance A New Look At An Old Concept
- Order: Reorder
- Duration: 28:04
- Updated: 20 Mar 2014
- views: 44
back
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back
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4:17
Avoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATED
October 11, 2013
In today's local housing market, a large share of Home Buyers will put l...
published: 09 Dec 2014
Avoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATED
Avoid Paying Monthly Mortgage Insurance on Your Home Loan - UPDATED
- Report rights infringement
- published: 09 Dec 2014
- views: 4601
4:30
What IS Mortgage Insurance?
One of the more confusing aspects of Buying your home is the Mortgage Insurance Premium an...
published: 27 Mar 2012
What IS Mortgage Insurance?
What IS Mortgage Insurance?
- Report rights infringement
- published: 27 Mar 2012
- views: 1682
1:57
What is mortgage insurance?
Ever wondered what may happen to your home and your loved ones should an unfortunate event...
published: 02 Apr 2013
What is mortgage insurance?
What is mortgage insurance?
- Report rights infringement
- published: 02 Apr 2013
- views: 4651
24:14
Selling Mortgage Protection Insurance Made Simple
If you are working New Homeowner Phone Data, Mortgage Protection Direct Mail Leads, or pro...
published: 03 Apr 2014
Selling Mortgage Protection Insurance Made Simple
Selling Mortgage Protection Insurance Made Simple
- Report rights infringement
- published: 03 Apr 2014
- views: 8035
4:35
Mortgage Insurance Vs Individual Life Insurance
What is the difference between mortgage insurance and individual life insurance?
Mortg...
published: 19 Jul 2011
Mortgage Insurance Vs Individual Life Insurance
Mortgage Insurance Vs Individual Life Insurance
- Report rights infringement
- published: 19 Jul 2011
- views: 6111
3:36
PMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of It
Few aspects of financing a home confuse people more than the concept of PMI, which stands ...
published: 01 Nov 2014
PMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of It
PMI (Private Mortgage Insurance): Understanding, Avoiding & Getting Rid Of It
- Report rights infringement
- published: 01 Nov 2014
- views: 5554
5:11
How To Remove Mortgage Insurance (MI or PMI)
This video explains how to remove mortgage insurance from your conventional Fannie Mae or ...
published: 25 Jun 2012
How To Remove Mortgage Insurance (MI or PMI)
How To Remove Mortgage Insurance (MI or PMI)
- Report rights infringement
- published: 25 Jun 2012
- views: 14863
5:13
Private Mortgage Insurance Explained
Private Mortgage Insurance Explained
published: 22 Mar 2012
Private Mortgage Insurance Explained
Private Mortgage Insurance Explained
- Report rights infringement
- published: 22 Mar 2012
- views: 1237
1:12
What is Lender's Mortgage Insurance (RAMS Simplifier)
Mortgage Insurance (Lender’s Mortgage Insurance or LMI) can allow a first time home buyer ...
published: 19 Feb 2015
What is Lender's Mortgage Insurance (RAMS Simplifier)
What is Lender's Mortgage Insurance (RAMS Simplifier)
- Report rights infringement
- published: 19 Feb 2015
- views: 919
2:01
Mortgage Insurance 101
HomeOpeners®: Mortgage Insurance 101
A conventional mortgage in Canada normally requires...
published: 15 Sep 2014
Mortgage Insurance 101
Mortgage Insurance 101
- Report rights infringement
- published: 15 Sep 2014
- views: 5884
back
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0:19
Private Mortgage Insurance YouTube
published: 08 Nov 2016
Private Mortgage Insurance YouTube
Private Mortgage Insurance YouTube
- Report rights infringement
- published: 08 Nov 2016
- views: 1
4:27
Answers to All Your Questions Regarding Loan and Mortgage Protection Insurance
View more details at http://nicerefund.com/
published: 08 Nov 2016
Answers to All Your Questions Regarding Loan and Mortgage Protection Insurance
Answers to All Your Questions Regarding Loan and Mortgage Protection Insurance
- Report rights infringement
- published: 08 Nov 2016
- views: 0
0:19
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney
published: 08 Nov 2016
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney
0:47
What Is Lenders Mortgage Insurance?
In this 40 second video, Anthony Webb explains Lenders Mortgage Insurance (LMI). Produced ...
published: 07 Nov 2016
What Is Lenders Mortgage Insurance?
What Is Lenders Mortgage Insurance?
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- published: 07 Nov 2016
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4:40
Mortgage Insurance Getting the Facts
video transcript
There are two types of mortgage insurance that you should know about. ...
published: 07 Nov 2016
Mortgage Insurance Getting the Facts
Mortgage Insurance Getting the Facts
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- published: 07 Nov 2016
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1:25
When Can You Cancel Mortgage Insurance
published: 07 Nov 2016
When Can You Cancel Mortgage Insurance
When Can You Cancel Mortgage Insurance
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- published: 07 Nov 2016
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1:22
What is Private Mortgage Insurance
published: 07 Nov 2016
What is Private Mortgage Insurance
What is Private Mortgage Insurance
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- published: 07 Nov 2016
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0:19
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney360p
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney360p
k...
published: 07 Nov 2016
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney360p
Mesothelioma Lawyer Insurance Degree Education Insurate Loan Mortgage Claim Attorney360p
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- published: 07 Nov 2016
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0:17
life insurance calculator/mortgage life insurance
life insurance leads insurance life life insurance company insurance life mortgage life in...
published: 07 Nov 2016
life insurance calculator/mortgage life insurance
life insurance calculator/mortgage life insurance
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- published: 07 Nov 2016
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0:17
mortgage life insurance/ life insurance calculator
mortgage life insurance
whole life insurance quote life insurance leads insurance life li...
published: 07 Nov 2016
mortgage life insurance/ life insurance calculator
mortgage life insurance/ life insurance calculator
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22:37
The Money Pros: Private Mortgage Insurance
Homestar Mortgage Vice President Steve Tetzner offers his expertise.
published: 12 Oct 2016
The Money Pros: Private Mortgage Insurance
The Money Pros: Private Mortgage Insurance
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- published: 12 Oct 2016
- views: 28
20:37
Mortgage insurance, purchase price vs. appraised value and more CMHC announcements
Recorded live on June 11, 2014
On this week's episode we explore mortgage insurance inclu...
published: 11 Jun 2014
Mortgage insurance, purchase price vs. appraised value and more CMHC announcements
Mortgage insurance, purchase price vs. appraised value and more CMHC announcements
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- published: 11 Jun 2014
- views: 503
21:15
Mortgage insurance, renewal surprise and CMHC making changes
Recorded live on April 30, 2014
This week Dylan answers questions about mortgage insuranc...
published: 30 Apr 2014
Mortgage insurance, renewal surprise and CMHC making changes
Mortgage insurance, renewal surprise and CMHC making changes
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- published: 30 Apr 2014
- views: 671
30:01
YPE 140117 Your Property Empire Lenders Mortgage Insurance Chris Gray Bridget Sakr Genworth
YPE 140117 Your Property Empire - Lenders Mortgage Insurance - Chris Gray - Bridget Sakr,...
published: 18 Jan 2014
YPE 140117 Your Property Empire Lenders Mortgage Insurance Chris Gray Bridget Sakr Genworth
YPE 140117 Your Property Empire Lenders Mortgage Insurance Chris Gray Bridget Sakr Genworth
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- published: 18 Jan 2014
- views: 554
25:53
Mortgage Insurance Committee Board Meeting - April 10, 2014
Archived webcast of the Board meeting The Mortgage Insurance Committee
published: 04 Jun 2014
Mortgage Insurance Committee Board Meeting - April 10, 2014
Mortgage Insurance Committee Board Meeting - April 10, 2014
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- published: 04 Jun 2014
- views: 28
21:33
Mortgage Insurance Committee - May 8, 2014
Archived webcast of the Board meeting The Mortgage Insurance Committee
published: 04 Jun 2014
Mortgage Insurance Committee - May 8, 2014
Mortgage Insurance Committee - May 8, 2014
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- published: 04 Jun 2014
- views: 20
55:56
2016-07-28 Thursday Training Call covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
Mortgage Coach's Compliance and Support Specialist Lori Lytle hosts the Thursday Q&A; with ...
published: 28 Jul 2016
2016-07-28 Thursday Training Call covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
2016-07-28 Thursday Training Call covering Mortgage Insurance, Reinvestment Strategies and EDGE Live
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- published: 28 Jul 2016
- views: 53
21:16
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
LOOKING FOR A...
published: 04 Jun 2014
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
Mortgage Minutes - How to Calculate a House Payment with Mortgage Insurance
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- published: 04 Jun 2014
- views: 87
28:04
Refinancing Mortgage Insurance A New Look At An Old Concept
Refinancing Mortgage Insurance A New Look At An Old Concept
published: 20 Mar 2014
Refinancing Mortgage Insurance A New Look At An Old Concept
Refinancing Mortgage Insurance A New Look At An Old Concept
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- published: 20 Mar 2014
- views: 44
The Money Pros: Private Mortgage Insurance...
Mortgage insurance, purchase price vs. appraised v...
Mortgage insurance, renewal surprise and CMHC maki...
YPE 140117 Your Property Empire Lenders Mortgage I...
Mortgage Insurance Committee Board Meeting - April...
Mortgage Insurance Committee - May 8, 2014...
2016-07-28 Thursday Training Call covering Mortgag...
Mortgage Minutes - How to Calculate a House Paymen...
Refinancing Mortgage Insurance A New Look At An ...
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Winner Of This Election Has Been Decided – And It’s Not Trump Or Clinton
Edit WorldNews.com 08 Nov 2016
Article by WN.com Correspondent Dallas DarlingEven now, a new WikiLeaks dump revealed how CNN’s Wolf Blitzer and Jake Tapper not only sought political advice from Democratic operatives, but what questions to draft for the party’s Republican opponents Donald Trump and Sen. Ted Cruz ... To be sure, the real power behind this election – and us – is the Megacomputer and Worldwide Web and its blogospheres and technocratic gadgets ... W. W ... 188-189. ....
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Edward Snowden shows how FBI managed to check 650,000 Clinton-related emails - so quickly
Edit The Times of India 08 Nov 2016
NEW DELHI. Using just 138 characters, famous - or infamous - US whistleblower Edward Snowden late yesterday demonstrated how the FBI could so quickly analyze 650,000 emails to prove US Presidential candidate Hillary Clinton did no wrong. Jeff Jarvis, a journalist, tweeted the NSA whistleblower about whether such an analysis could be done so quickly, because US Republican Donald Trump has been insinuating that it can't ... RELATED....
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Chelsea Clinton Reportedly Used Foundation To Pay For Wedding
Edit Opposing Views 08 Nov 2016
Chelsea Clinton has been drawn into the controversy regarding the emails hacked from the Gmail account of Hillary Clinton’s campaign chairman, John Podesta. Since October, Wikileaks has released over 50,000 of the emails, which are published on Wikileaks.org. Podesta, a close political ally of the Clintons, had previously served as Chief of Staff for President Bill Clinton ... In a Jan....
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Americans Choose Between Hillary Clinton And Donald Trump
Edit Time Magazine 08 Nov 2016
(Washington) — After nearly two years of bitterness and rancor, America will elect its 45th president Tuesday, making Hillary Clinton the nation’s first female commander in chief or choosing billionaire businessman Donald Trump, whose volatile campaign has upended U.S. politics. The winner will inherit an anxious nation, angry and distrustful of leaders in Washington ... EST ... “It’s been a long journey.” ... ___....
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Giant sinkhole swallows Japan city street
Edit Deccan Herald 08 Nov 2016
A giant sinkhole appeared in the middle of a busy Japanese city today, swallowing part of a five-lane street near the main railway station ... TV footage showed two separate holes steadily expanding as they sucked in asphalt and soil in front of the city's Hakata Station ... ....
Radian’s Distinguished Risk Maturity Model Recognized for Second Consecutive Year
Edit Stockhouse 08 Nov 2016
“At Radian we have taken the focus on risk management to new levels by leveraging our core expertise in credit risk management supported by our Clayton-Radian combination, and elevating this capability as an important differentiator among mortgage insurance peers,” commented Radian Chief Risk Officer Derek Brummer ... Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc....
Radian’s Distinguished Risk Maturity Model Recognized for Second Consecutive Year (Radian Group Inc)
Edit Public Technologies 08 Nov 2016
'At Radian we have taken the focus on risk management to new levels by leveraging our core expertise in credit risk management supported by our Clayton-Radian combination, and elevating this capability as an important differentiator among mortgage insurance peers,' commented Radian Chief Risk Officer Derek Brummer ... Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc....
MGIC Investment Corporation Releases Monthly Operating Statistics (MGIC Investment Corporation)
Edit Public Technologies 08 Nov 2016
MTG) today issued an October 2016 Operational Summary of the primary mortgage insurance of its insurance subsidiaries ... Insurance in Force (billions) ... homeownership sooner by making affordable low-down-payment mortgages a reality. At October 31, 2016, MGIC had $180.7 billion of primary insurance in force covering approximately one million mortgages....
DBRS: Home Capital Group Stable Q3 2016 Profitability; New Mortgage Rules May Impact Few Segments (DBRS Limited)
Edit Public Technologies 08 Nov 2016
Going forward, the new mortgage lending rules announced by Canada's Department of Finance, which go into effect in October and November 2016, are expected to reduce HCG's Accelerator segment originations (insured residential mortgages) by up to 60% annually ... As of Q3 2016, insured single-family and multi-unit residential mortgages outstanding stood ......
Dry Powder, Clean Exposures, And Valuation Make Hilltop Holdings Worth A Look
Edit Seeking Alpha 08 Nov 2016
What Hilltop does have, though, is a strong capital position that can support expanded lending and M&A, not to mention an asset that can be sold (its insurance business) to fund additional moves ... As it sits today, the banking and mortgage banking businesses generate a large portion of the pretax profits, with the broker-dealer business growing and the insurance business sort of hanging around ... Time To Jettison Insurance?....
MGIC Investment Corporation Releases Monthly Operating Statistics
Edit PR Newswire 08 Nov 2016
MILWAUKEE, Nov. 8, 2016 /PRNewswire/ -- MGIC Investment Corporation (NYSE. MTG) today issued an October 2016 Operational Summary of the primary mortgage insurance of its insurance subsidiaries. The summary is also available on the company's website at http.//mtg.mgic.com, under Investor ... ....
AIG Increases Apartment Mortgages
Edit MoneyTips 08 Nov 2016
New figures reveal that insurance company America International Group (AIG) has increased its lending on apartment mortgages. This move is aimed at cancelling out the effects of volatile hedge fund holdings and the low yields for publicly-traded bonds. It also indicates rising interest in apartment ownership.
... While rents have risen by 3.8 percent, the U.S ... The third quarter of 2016 saw AIG lend most in ... ....
CoreLogic Reports 36,000 Completed Foreclosures in September 2016 (CoreLogic Inc)
Edit Public Technologies 08 Nov 2016
As of September 2016, the national foreclosure inventory included approximately 340,000, or 0.9 percent, of all homes with a mortgage, compared with 493,000 homes, or 1.3 percent, in September 2015 ... The foreclosure inventory is measured only against homes that have an outstanding mortgage ... The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector....
Legal & General appoints Bernie Hickman as Chief Executive Officer of Combined UK and US Insurance Division (Legal & General Group plc)
Edit Public Technologies 08 Nov 2016
Legal & General Insurance (LGI), under the leadership of Bernie Hickman (photo) ... The new Insurance division will have over 7 million customers in UK and the US, and provide life insurance, critical illness cover, and income protection to individuals and company employees. The UK insurance business is a multi-channel, multi-product business, using technology to deliver great customer service with cost and scale efficiencies....
30-Year Fixed Mortgage Rates Decline Slightly; Current Rate is 3.38%, According to Zillow Mortgage Rate Ticker
Edit Stockhouse 08 Nov 2016
08, 2016 (GLOBE NEWSWIRE) -- The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.38 percent, down 2 basis points from this time last week. The 30-year fixed mortgage hovered around 3.40 percent for most the week, then settled around the current rate on Tuesday. “Mortgage rates were volatile but on average flat last week given heightened uncertainty about the U.S ... http.//www.zillow.com/mortgage-rates....
Commonwealth Bank Basel III Pillar 3 - capital adequacy and risk disclosures as at 30 September 2016 (Commonwealth Bank of Australia)
Edit Public Technologies 08 Nov 2016
Level 2 is defined as the consolidated banking group excluding the insurance, funds management businesses and entities through which securitisation of Group assets are conducted ... In August 2016, APRA reaffirmed its aim to increase average risk weights applied to Australian residential mortgages held by ADIs accredited to use the AIRB approach to credit risk....
Jeffrey Keiser Named East Regional Manager for Stonegate Mortgage (Stonegate Mortgage Corporation)
Edit Public Technologies 08 Nov 2016
Stonegate Mortgage Corporation) ... INDIANAPOLIS, IN -- (Marketwired) -- 11/08/16 -- Stonegate Mortgage Corporation(NYSE. SGM), a leading publicly traded mortgage company focused on originating, financing and servicing U.S. residential mortgage loans, today announced that Jeffrey Keiser has been named East Regional Manager for their Distributed Retail Channel ... Keiser has over 20 years' experience in the mortgage industry....
November 8, 2016 - Quicken Loans HPPI: Owner Perception of Home Values Improves for Fourth Consecutive Month (Quicken Loans Inc)
Edit Public Technologies 08 Nov 2016
The index compares the estimate that the homeowner supplies on a refinance mortgage application to the appraisal that is performed later in the mortgage process ... The Quicken Loans HVI is the only view of home value trends based solely on appraisal data from home purchases and mortgage refinances. This produces a wide data set and is focused on appraisals, one of the most important pieces of information to the mortgage process....
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