Kristopher Mussell Home Financing

Do you need mortgage default insurance?

Depending on what you’ve been able to save, you may be required to pay mortgage default insurance, which can significantly impact your budget.

If your down payment is less than 20% of the price of the house you want, then you’ll have to pay mortgage default insurance. The monthly cost of mortgage default insurance varies, your advisor can help you figure it out the exact amount and will add it to your regular mortgage payments.

For more information you can visit the link below:

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Buying a home is a huge financial decision, probably one of the biggest you’ll ever make. There are a lot of things to consider before taking the plunge, but the process doesn’t have to be complicated.



Try our Rent or Own tool to help with this decision;

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