Category Archives: Closing Costs

Loans With No Private Mortgage Insurance Are Available

Pic credit to Vichie81     Are there  loans without private mortgage insurance or mortgage insurance where less than 20% equity, or less than a 20% down payment exists?  YES.  There is a loan option called lender paid mortgage insurance.  What happens is that the lender buys the private mortgage insurance instead of the borrower.  The cost for the […]

Loan Originators No Longer Able To Waive Fees As Of April 1 2011

As of April 1, 2011, the lender/loan originator compensation law kicks in. This is not good for consumers. We’ve all had those transactions where at the close of escrow the buyer is short closing costs or wants lender fees to be waived in order for the deal to close and usually the lender/originator obliges in […]