Standard Mortgage Blog

The taxes and insurance component of your monthly mortgage payment may include mortgage insurance, which protects investors from default if a borrower fails to pay. Mortgage insurance is a valuable tool, but borrowers frequently have concerns regarding its length, available payment plans, and early payoff possibilities.

Your credit score affects every step of the home-buying process, from obtaining a mortgage to negotiating interest rates, which can affect the loan amount or program you qualify for. Here is why having a high credit score is important when buying a house. 

Deferred student loans and income-driven repayment plans are common scenarios that can impact your ability to purchase a home. A deferred student loan account allows the borrower to postpone making monthly payments for some time. Income-driven repayment plans allow borrowers to have a monthly payment that is based on their family size and income. Both factors can affect your mortgage application..