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How Do I Get Rid of Private Mortgage Insurance?

Private mortgage insurance (PMI) is required by lenders when borrowers contribute less than 20% of the home’s value as a down payment. This insurance protects the lender, not the homebuyer. If the loan borrower defaults on the mortgage for any reason, the insurance will reimburse the lender up to 20% of the original loan amount. Homebuyers pay for the PMI premiums, either up front in a lump sum each year or built in to their monthly mortgage payment. While PMI is helpful for allowing borrowers to become homeowners without saving up a full 20%, the premiums do add up over time. The good n...

June 12th, 2019 | Conventional Loans, How Do I Get Rid of Private Mortgage Insurance?

4 Ways to Avoid Scams in the Miami Real Estate Market

As a new home buyer, it is important that you carefully research the real estate industry in the area that you are considering moving to. If you are able to conduct your research carefully, you will find that you make more informed decisions when deciding who to work with. Here are four ways to avoid scams in the Miami real estate market: 1. Work with a Mortgage Broker in Coral Gables: Mortgage brokers, if you find the right one, can be a major help to you. If you find one with a positive reputation, you will find that you have a major ally on your side to offer the best possible inter...

July 3rd, 2017 | Mortgage, Scams, Real Estate, Miami, 4 Ways to Avoid Scams in the Miami Real Estate Market

3 Tips to Finance Less on Your Upcoming Home Purchase

When you are saving up to buy your first home, it is important to save the proper capital to fund your purchase. That being said, some individuals will have to finance a portion of their home. If this pertains to you, then it is wise that you learn how to save the maximum quantity possible in order to finance less. If you are attempting to purchase property in Miami, then it is wise that you reach out to a mortgage broker in Coral Gables when you are ready to purchase your home. They will help you obtain the best possible interest rate on your upcoming purchase. Here are three tips t...

June 27th, 2017 | Finance, First Home, First Time Homebuyer, Purchase, 3 Tips to Finance Less on Your Upcoming Home Purchase

3 Secrets to Closing Escrow This Summer in Miami

In the Summertime, it is a great time to move house because the children are out of school and the whole family has less activities going on that make a transition easier. If you are trying to relocate to Miami or to another part of Miami, it is important to note that the real estate market does move quite fast. To this end, it is absolutely possible to make an offer, get financing, and close escrow by the end of Summer if you move fast. Here are three secrets to closing escrow this Summer in Miami: 1. Work with a Real Estate Agent: Real estate agents are driven by sales. This is why you sh...

June 26th, 2017 | Finance, Real Estate, Miami, 3 Secrets to Closing Escrow This Summer in Miami

3 Unforeseen Real Estate Dangers to Avoid

If you are planning on purchasing a home, then it is important to assess whether you have the capital to do so, but it is also important to protect yourself from common pitfalls that many homeowners run into. If you are purchasing your next home in Miami, it is best to work with a mortgage broker in Coral Gables, a real estate agent, and an attorney to have the best possible real estate purchasing experience. Here are three unforeseen real estate dangers to avoid: 1. Lack of Title: Many properties have easements that are grandfathered into them. It is important that you research the pr...

June 22nd, 2017 | Purchasing, Debt, Pitfalls, 3 Unforeseen Real Estate Dangers to Avoid

3 Documents to Bring to Your Mortgage Broker

When you are ready to purchase a home, it is a very exciting time. For this reason, it is easy to forget what procedural parts of the process are necessary to complete your sale with ease. It is important to note that the Miami real estate market moves quickly and that if you have to finance part of the fees of your home, you will need to move quickly in finding a mortgage broker to assist you. If you are looking for a home in Miami or Coral Gables, then it is important to find the right mortgage broker in Coral Gables to assist you. Once you do so, you will have to find the proper d...

June 15th, 2017 | Purchasing, Purchase, Miami, Finance, Broker, 3 Documents to Bring to Your Mortgage Broker

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