Archive for July 2022

If you currently have a VA-backed home loan and are looking to reduce your monthly mortgage payments, an interest rate reduction refinance loan (IRRRL) may be right for you.  Refinancing lets you replace your existing loan with a new one under different terms. In order to be eligible, all of the following must be true:…

Private mortgage insurance (PMI) is a type of insurance required by lenders for certain mortgages, such as a conventional loan. Conventional mortgages often require private mortgage insurance when less than 20% of a home’s purchase price is put down.  The cost of PMI insurance can vary, but a good guideline is between 0.5 – 1%…