When Can Mortgage Insurance Be Dropped?
Lenders typically require you to pay for mortgage insurance when you don't put down at least 20 percent on your home to protect the lender in the event you default on the loan. If you took out your mortgage before July 29, 1999, federal law doesn't require your lender to cancel ...
How to Manually Calculate a Mortgage
Manually calculating a mortgage allows you to see how all of the variables work together. To figure a mortgage by hand, you’ll need to know the mortgage term, interest rate and how much you’re ...Read More
How Many Names Can Be on a Mortgage?
Generally a mortgage is in one or two names, but sometimes having three or more buyers makes sense, such as group purchases of vacation homes or situations where a co-signer is needed. There is no ...Read More
Definition of 'Trustee' in Real Estate
A trustee in real estate isn't the same as a person acting for and managing a living trust. Some states, such as California, use a deed of trust to ensure payment of home loans instead of a mortgage. ...Read More
VA Mortgage Loan Guidelines
One of the ad-hoc benefits U.S. military personnel have access to are mortgage loans provided by the Department of Veterans Affairs, called VA loans for short. These loans have slightly relaxed ...Read More