Mortgage Insurance VS Homeowners Insurance: Here’s what first-time home buyers need to know

Melissa Kerick

Published on: 29/06/2024

For first time homebuyers, the terms “mortgage insurance” and “homeowners insurance” can get a little confusing. Let’s break down what these terms mean, and what you need to know about the different types of insurance involved when purchasing your home.

mortgage insurancehomeowners insurancefirst-time homebuyersMiPMIMIPUFMIPmortgage insurance costprivate mortgage insuranceconventional loanFHA loanupfront mortgage insurance premiumloan-to-value ratiorefinancingmortgage advisorliability coveragehome purchaseinsurance policy details

Down Payment, Closing Costs, Cash To Close: How much do I need to save?

Melissa Kerick

Published on: 28/06/2024

Your savings will play a major role in your home buying decisions. If you’re gearing up to buy a home, it’s probably a good idea to start saving ahead of time. But what costs exactly do you need to save up for?

down paymentclosing costscash to closehome buyingsave for down paymentmortgagehome purchasedifference between down payment and closing costscash to close calculationupfront costshome ownership real estate feesappraisallending feestitle feescredit report feerecording taxpest inspectiondown payment assistanceseller concessionsseller credittransfer taxproperty taxeshomeowners insurancemortgage insurancebuyer's marketitesemized fee sheetloan estimatepre-approval