If you are required to carry mortgage insurance, removal of the insurance may occur when the equity in your home reaches a certain percentage. Note: Depending on the type of loan you have, your mortgage insurance may go by different names. It can be called Private Mortgage Insuranc...

It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP). Removing PMI If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ratio ...

It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP). Removing PMI If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ratio ...

A verification of mortgage (VOM) is an official statement that verifies your existing loan terms and provides a rating of the payment history, including if the loan was current or delinquent for each month listed. It reflects only the most recent 12 months of your loan, excluding the...

When your taxes and/or insurance increase from the amounts paid last year, the escrow portion of your monthly payment will also increase to cover the higher disbursements. The escrow shortage is the amount needed to ensure the escrow account is fully funded in the upcoming year per t...

Private mortgage insurance (PMI) protects your loan’s investor (the entity that owns the loan) in case a borrower defaults. Lenders may require private mortgage insurance if your down payment is less than 20% of the loan amount.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection against default.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection against default.

Private mortgage insurance (PMI) protects your loan’s investor (the entity that owns the loan) in case a borrower defaults. Lenders may require private mortgage insurance if your down payment is less than 20% of the loan amount.

It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP). Removing PMI If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ra...