There are a whole bunch of new terms you'll hear when you decide to start shopping for your first home. One you may have heard of is Private Mortgage Insurance (PMI). Here's what you need to know about PMI and how it can help you buy a home.
We hear a lot of chatter in the news these days about the pros and cons of our government; however, for prospective home buyers, Uncle Sam can be a mighty good friend. The Federal Housing Administration (FHA) is one of our country's most enduring gifts to its citizens. FHA mortgage insurance backstops your FHA loan with the full faith and credit of our country. Without using taxpayer money, FHA insures mortgages on single-family, multi-family, and manufactured homes.
Your home mortgage is probably the largest debt you will ever take on, so it's no surprise that many homeowners are motivated to pay off their mortgage as quickly as possible. Depending on your financial situation, it may be possible to shave months, years, or even decades off your mortgage.
If you're interested in getting out from under your mortgage as soon as possible, our team at SheriGoldman.com is here to help. Here's how you can pay off your home loan early without destroying your budget: