February 20, 2009, Newsletter Issue #156: Getting a Lower Private Mortgage Insurance Rate

Tip of the Week

Unfortunately, many home buyers simply have no choice but to take on private mortgage insurance. If you fall in this category, don't take on a higher rate than necessary. Different lenders will have different private mortgage insurance rates and you should shop around for the lowest one as vigorously as you shopped for the lowest mortgage rate.

Start by filling out some online mortgage applications to get various quotes from different brokers and lenders. Examine each of these and pick the best few in terms of rate, closing costs, and terms. Then, approach each of them for more details on how they calculate their private mortgage insurance rate.

Get clear answers to your questions because the smallest changes in these figures will alter your monthly payments. Once you have gotten multiple quotes on a private mortgage insurance rate, you are equipped to make the smartest decision in terms of your mortgage loan. You can find lower private mortgage insurance rates with a little effort and a lot of question asking.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Mortgages Tip Site? Request a Tip Now!


Guru Spotlight
Patricia Walters-Fischer