Tuesday February 21, 2017
 

Home Buying Help

How Much is Mortgage Insurance?

Don’t have enough money to pay 20% as a deposit on a new home?

If you don’t own 20% or more equity in your home, you probably will be required to purchase mortgage insurance as part of the package.  Mortgage insurance usually costs between 0.5% to 1.15% of the value of your full loan every year.

So if your loan for your home is $100,000 for example, the total due each year would be about $1,000.  Per month that isn’t so bad (about $83.33).

How to Buy a House

There are a number of steps which you need to complete before you can even start searching for a home—and then a number of steps left in order to complete the process.Want to take the huge step of purchasing a house, but don’t know where to begin your home-buying journey?

There are a number of steps which you need to complete before you can even start searching for a home—and then a number of steps left in order to complete the process.  It’s very important to learn all you can about the process and the housing market before you close on a deal.