Federal law requires a lender to cancel private mortgage insurance (PMI) on conventional loans when a mortgage term is at its halfway point, or when the mortgage balance drops to 78 percent of the ...

Many first-time homebuyers will discover that they have to pay for something called "mortgage insurance." This adds to your monthly mortgage payment and is often an unpleasant surprise. That's ...

Let’s start off the new year with a money saving tip, especially for low-down payment, first-time owners who bought a home more than two years ago. If you bought your home using conventional financing ...

The real estate industry has a trade-off between consumers and lenders. Consumers can get a mortgage with a small down payment, but lenders are then protected with buyer-paid mortgage insurance that ...

Many potential homebuyers balk at the thought of putting down 20% of a home's purchase price to secure a mortgage. The good news is that you can get a mortgage with a much smaller down payment — but ...

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is ...