What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance, or PMI, is an added insurance policy for homeowners who have a down payment that is less than 20%. PMI protects the lender if the borrower is unable to pay their mortgage. This insurance is not forever. It will either end automatically when a mortgage’s principal balance reaches 78% of the original […]
How much home can I afford?
Many experts recommend that your housing costs – including mortgage, taxes and insurance – should be no more than 28% of your monthly income. However, this rule of thumb may not work for everyone. To figure out how much you can afford to spend on a home, consider your household income, monthly debts and the […]
What’s the difference between FHA and Conventional loans?
FHA loans and Conventional loans differ on several factors including lower down payment and the credit score requirements to qualify. Conventional loans typically require higher FICO scores and a minimum 20% down payment.
What is an FHA Mortgage?
FHA loans are known to be a flexible lending option. Suitable for first-time buyers, FHA loans have more flexible qualifications than conventional loans.
Do I need to verify my income for a non-traditional loan?
Depending on which loan program you qualify for, a statement of income may not be required.
How do I get started with a non-traditional loan?
The first step to getting pre-qualified for a non-traditional loan is to Speak To a Quontic Mortgage Expert.
