Standard Mortgage Blog

Depending on the size of your down payment or the amount of equity in your home, you may have to pay for mortgage insurance. This additional cost will increase your monthly payment. Let’s take a closer look at what private mortgage insurance, or PMI, is, how long you’ll have to pay for it, how it’s calculated, and how it can be avoided.

When you apply for a loan, your lender is required by the CFPB (Consumer Financial Protection Bureau) to give you a Loan Estimate. This is a standardized form that gives you important details about the mortgage you are applying for. This document includes all of the costs (down payment and closing costs) associated with the closing of your mortgage, interest rate and monthly payment as well as..

You probably see ads for mortgage lending companies all over the place. From big banks to small ones, from credit unions to mortgage lenders, financing sources for home purchases are seemingly everywhere. What you may not see or notice as often are mortgage servicing companies; however, you will more than likely deal with your mortgage servicing company longer and more often than you do with your..