How to Avoid PMI When Buying a Home

How to Avoid PMI When Buying a Home

Loans
Mortgage insurance, or PMI, is a policy that protects lenders if they default on their loans. When you take out a mortgage, lenders require borrowers to buy PMI if their only have less than a 20% down payment. While it might be costly, it can be avoided if you put down enough to qualify for a conventional mortgage, which does not require you to buy PMI. Private mortgage insurance (PMI) is a common expense for homebuyers, but it doesn't automatically mean you're stuck with a higher mortgage payment. By refinancing your mortgage with the help of a mortgage advisor Red Deer (or your local area), you can either avoid PMI altogether or significantly reduce the amount you pay for it. Start by searching for a lender who can assist you…
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A Comprehensive Guide to the Different Types of Loans on the Market

A Comprehensive Guide to the Different Types of Loans on the Market

Loans
Loans are a necessity in life. Whether you need a personal loan to consolidate your debt or you want an investment opportunity, there's a loan out there for you. In this blog post, we'll give you the rundown on all the types of loans and how they work, so that you can figure out what type of loan is best for your situation! Personal Loans Personal loans are one of the most popular types of loans on the market. You can use them for a variety of purposes, including consolidating debt, financing a major purchase, or even taking a dream vacation. When it comes to obtaining a personal loan, there are several methods you can explore. One option is to apply for personal loans in person at local bank branches…
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Buying a Car on Finance: What to Know

Buying a Car on Finance: What to Know

Loans
Buying a car is a big deal and not something to rush into. There are lots of factors to think about, like whether you should finance the car or not. Financing can be a good choice for some people, but it's crucial to weigh the pros and cons before you make a decision. If you're thinking about financing a car, one of the first things you should do is research how much the car you want costs. Websites like AutoEasy can give you an idea of the different car prices so you can figure out how much you might need to borrow. This helps you make a smart choice based on your financial situation. Things To Know When Buying Cars on Finance When contemplating financing for a car purchase, crucial…
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