Is Mortgage Insurance Really Worth It?

If you’re considering a low down payment mortgage—less than 20%–you may have heard you’ll need to pay mortgage insurance (also known as MI, private mortgage insurance or PMI, and mortgage insurance premium or MIP) in addition to your monthly mortgage payment. While it adds another monthly payment to your mortgage, it may also help you get in a home sooner. Let’s look at your options and some hidden benefits of MI. keep reading

How to Start Saving for a Home When You’re Still Renting

by Beth Kotz

If you’re used to living in a cramped apartment and paying rent to a landlord who never fixes anything, then you’ve probably dreamed about ending the tenant life and finding yourself a home to call your own. It doesn’t need to stop as a dream, nor does homeownership require extraordinary wealth. With some prioritizing, planning, research and smart money management, you can afford a down payment on a home. keep reading