Mortgage Information

Mortgage Insurance Elimination From Conventional Mortgages

Mortgage insurance is typically assessed on standard conventional mortgages with down payments lower than 20%. The amount is payable monthly and lumped into the mortgage payment. Mortgage … [Read more...]

Qualification Criteria Changes For FHA Loans Effective The 15th Of September 2015 | Maine FHA Loans

One of the most common types of loans is FHA. Qualification criteria changes for FHA loans effective the 15th of September 2015 include several critical changes. Below are the key aspects of those … [Read more...]

Important Details On Lender Paid Mortgage Insurance For Maine Home Mortgages

Mortgage insurance is generally mandated when a home buyer borrows more than eighty percent of the value of a property. It protects lenders against loss should a homeowner fall short of paying a loan. … [Read more...]

Updated Limits For FHA Mortgages In Maine

FHA adjusts their mortgage limits yearly. If you are buying a property this season and intend to apply for an FHA mortgage, it is important to be familiar with these limits and how they can fluctuate. … [Read more...]

Maine FHA Home Loans New PMI Rates starting January 26, 2015

President Obama recently announced that the PMI rates for FHA home loans is lowering by half a percent. This will help people currently looking for a property. Here is some helpful information on … [Read more...]

Maine Home Equity Loan Information

There are many different home equity loan options. Some can be a better fit than others based on your situation, mortgage rates, and what you need the loan for. The Maine home equity loan information … [Read more...]

Predicted Interest Rate Fluctuations In 2015 – What Maine Buyers Should Keep In Mind

Interest rates have risen since the beginning of 2015. According to many professionals, it will likely go up even more as 2015 progresses. This is critical information for individuals who plan to find … [Read more...]

Eliminating PMI From FHA Home Loans Issued Prior To June 3, 2013

Many home buyers who have FHA mortgages were interested in the low down payment requirement. Since PMI is often required on mortgages with less than a 20% down payment, most FHA borrowers have … [Read more...]

TILA-RESPA Integrated Disclosure Changes

You typically receive multiple disclosure forms when trying ot obtain a home loan. It is easy to get confused. Many of these were required by different legislation over the years. In some cases, they … [Read more...]

Advantages And Disadvantages Of Financed Mortgage Insurance

Mortgage insurance (MI) is a policy that protects mortgage companies in case a home owner defaults on a home loan. It is commonly required by a lender on loans with a down payment that is less than … [Read more...]