Frequently Asked Questions

Browse questions and answers regarding mortgages, home buying, refinancing, equity loans and more.
 
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FAQ Topics:
Home Buying Vocabulary
  Conventional Mortgages
A conventional loan is the most common type of mortgage. With low down payments conventional mortgages are usually insured by private mortgage insurance companies (PMI). Private mortgage insurance adds a relatively small cost to your financing ( about 6/10 of one percent of the loan amount per year or $600 per year on a $100000 loan) but it allows you to buy a home with a lower down payment.
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