Other factors beyond the rate can drive up a your projected new monthly mortgage payment. Such adjustments include private mortgage insurance (PMI for short) and the term of the loan sought. A lower rate loan adjusting for mortgage insurance and a shorter term debt structure will make for a higher payment. What to be aware…
Read MoreYes you can. Here’s the best possible scenario to have to FHA Loans out at the same time. You purchased your home originally with an FHA Loan, put 3.5% down and now your situation has changed. Any one the following is makes sense with FHA: perhaps your business is such that you need a bigger…
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