Posted on: 31st Aug, 2009 10:08 am
DO I NEED MORTGAGE INSURANCE? HOW DO I GET IT?
you may or may not need it catharin. are you purchasing a home, or refinancing an existing home? do you have less than 20% equity in your property, or less than 20% down payment on the one you are purchasing, if either of these is the case?
lenders obtain mortgage insurance, not borrowers.
lenders obtain mortgage insurance, not borrowers.
Hi Catharin,
You can contact your lender to collect detailed information about mortgage insurance.
You need mortgage insurance only if you plan to make a down payment of less than 20% of the purchase price of the home.
FHA offers several loan programs that may meet your needs.
You can contact your lender to collect detailed information about mortgage insurance.
You need mortgage insurance only if you plan to make a down payment of less than 20% of the purchase price of the home.
FHA offers several loan programs that may meet your needs.
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