Mortgage Insurance

What is Mortgage Insurance? Say you buy a house with a down payment of less than 20% or even if you refinance with less than 20% equity. In each case, your lender will require you to buy mortgage insurance. The idea of paying a mortgage insurance is to reimburse your lender if you default on … Continue reading "Mortgage Insurance"

Pre-qualification v. Pre-approval

What is the difference between Mortgage Pre-qualification v. Pre-approval? Before I elaborate on the difference between a pre-qualification v. pre-approval, I will give a brief outline on the difference between the two processes.