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 ...

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 ...

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 ...

Escrow adjustments “An escrow account is essentially a built-in savings account managed by your mortgage servicer,” explained Debbie Calixto, an Indian Wells, California-based ...

If you got your FHA loan after the year 2000, you may be able to cancel your FHA mortgage insurance. If you got your loan before 2000, you’ll continue to pay the premiums in most cases. If your loan ...

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 ...