PMR Mortgage Blog

What is private mortgage insurance?

What is private mortgage insurance?

You may have heard about it, but as a first-time homebuyer, you may have questions about private mortgage insurance (PMI). Let's start with who pays for it. The most common arrangement is for the borrower to include PMI payments in their monthly mortgage. You'll learn...

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5 ways to prepare for spring buying season

5 ways to prepare for spring buying season

Prime homebuying season (spring) will soon be in full swing. As home buyers and sellers prepare for a successful experience, there are several actions you can do today to maximize your efforts. If you've decided on selling your home this year, here are a few ways to...

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Refinancing applications surge as rates continue to fall

Refinancing applications surge as rates continue to fall

Spurred by ongoing reductions to mortgage rates, the refinancing world is spinning a little faster these days. According to the Mortgage Banker Association, the volume of loan applications rose substantially to close out the first month of the year. The association's...

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Experts predict continued rate drops in 2020

Experts predict continued rate drops in 2020

This past year brought many unexpected and exciting trends in the mortgage world; namely, significant drops in rates that surprised industry experts and homebuyers alike. Industry forecasters are predicting that 2020 will be another banner year for low rates,...

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Refinance loans reach highest percentage since 2015

Refinance loans reach highest percentage since 2015

Just a few months ago, refinance loans made up more than half of all loans closed, according to Ellie Mae's October Origination Insight Report. The monthly report noted that, previously, the highest percentage took place in March 2015. One of the contributing factors...

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The 3 Most Important Numbers for your Mortgage Application

The 3 Most Important Numbers for your Mortgage Application

When it comes to getting a lender's approval to buy or refinance a home, there are 3 numbers that matter the most — your credit score, debt-to-income ratio, and loan-to-value ratio. These numbers can affect your ability to qualify for a mortgage and how much it costs you. Here's a rundown of what they are and why they matter.

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5 questions to ask yourself about refinancing

5 questions to ask yourself about refinancing

With the recent decline in interest rates, we are in the midst of what market forecasters are calling a mortgage refinance "boom." One study by Black Knight estimated that, as of July 2019, nearly 8 million homeowners were eligible for a mortgage refinance. If you own...

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Appraisal requirement removed for some homes under $400,000

Appraisal requirement removed for some homes under $400,000

Regulators have removed the appraisal requirement for some homes valued under $400,000. While this new rule impacts many types of loans, it's important to note that not all loans will be affected. Loans that are guaranteed or insured in part, or entirely, by a...

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Low Mortgage Rates Offer Borrowers Plenty of Options

Low Mortgage Rates Offer Borrowers Plenty of Options

Lower interest rates have historically given homeowners the green light to refinance their homes in order to lower their monthly payments. Even if you think you have a great rate already and won't benefit from refinancing your mortgage, you may be mistaken. There are a multitude of reasons for refinancing your mortgage.

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