Entries by Christian Crandall

Top 10 Truths: Mortgage Insurance

Mortgage Insurance (MI) aka Private Mortgage Insurance (PMI) is a necessary evil in today’s lending environment for many home buyers. Here are the top 10 things to know about mortgage insurance: What is Mortgage Insurance? Mortgage insurance, aka MI, is an insurance policy which compensates the lenders or investors for losses due to the default […]

Top 10 Truths: FHA Loans

The FHA was established in 1947 and experienced a re-birth after banks discontinued the stated-income qualification around 2008. For buyers who had between 3% and 10% down FHA became the “only game in town,” as conventional loans required 10% down before the minimum down payment dropped to the current 5% level. Here are the top […]

Mortgage Payment 101

When calculating a mortgage payment, here are the four basic costs: Principal Interest Property Taxes Insurance Online mortgage calculators tend to give you the principal & interest payment but don’t forget about property taxes and insurance! Property taxes rate are county specific. LA County charges 1.25% (of the purchase price) every year, for example. Insurance […]