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Can I Refinance Without Closing Costs?

Homes in Miami can be expensive, and Miami mortgages tend to be expensive too. It may be time to consider refinancing your mortgage. Mortgage refinance loans require fees and closing costs. Is there a way around those fees? Is it possible to refinance without paying closing costs? The answer is yes, although the rest of your loan will be affected. The typical fees associated with refinance loans include lender fees and third-party fees. Lenders fees consist of things like origination, processing and underwriting. Some no-cost refinance programs have the lender pay for all these fees but ...

June 26th, 2019 | Refinancing a Home, Closing Costs, Can I Refinance Without Closing Costs?

5 Tips for Buying an Investment Property in Florida

Adding real estate to your investment portfolio can be a great asset… if done correctly. Buying a property to flip or rent out has different mortgage requirements than a primary residence. There are always hidden costs that need to be anticipated as well. If you are interested in taking on an investment property, here are five tips for making it a successful venture. 1. Determine the Right Property Type and Area Picking the right property is crucial to your success. If you are buying a rental home, you need to decide what type of renters you want to attract. Find out what areas th...

June 19th, 2019 | Purchasing a Home, 5 Tips for Buying an Investment Property in Florida

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?