Mortgage Insurance With Mortgage Mark

MI Factors

The costs of Mortgage Insurance (MI) varies from program to program and the government-backed programs (like FHA, USDA, etc.) have predetermined MI factors that only vary based on the Loan to Value (LTV) and the loan term (i.e. 30 year vs. 15 year fixed). Conversely, the costs of MI for conventional loans (i.e. loans that aren’t […]

Mortgage Insurance Overview

Mortgage Insurance, PMI, MIP, MI – it’s all the same (sort of). PMI is mortgage insurance for conventional loans, MIP is for government loans (like FHA and USDA), and Mortgage Insurance, aka “MI” is the generic term for all types of mortgage insurance. Bottom line: Mortgage Insurance protects the lender against losses if a borrower […]

Down Payment with Dallas Top Lender

Mortgage Down Payments

So you’re buying a home and trying to determine how much you should put for a mortgage down payment. Below are the basic down-payment guidelines for various loans programs, AND a few of our opinions about how much you should (or shouldn’t) put down for a down payment. The funds due at closing consists of […]

Seller Concessions for Best Listing Realtor in Dallas

Seller Concessions

Seller Concessions Seller Concessions are essentially a way to “roll-in” Closing Costs on a purchase home loan (see also How To Pay For Closing Costs). Seller Concessions are negotiated between the buyer and seller during the contract negotiations and are recorded in Section 12 of the purchase contract.  (Note: Seller Concessions can be included in a contract amendment […]


USDA Home Loans

USDA Home Loans allow 100% financing when purchasing or refinancing a home in a USDA-designated rural area.  These home loans are guaranteed by the United States Department of Agriculture and eligibility is based primarily on income limitations and the property’s location. Let’s review some USDA specifics: Purchase or streamline refinances are available – Must be your primary residence. […]