spring_valley_home_buying_av.html If you're dreaming of a place, congratulations.
spring_valley_home_buying_hb.html You're in good company! Almost two-thirds of the nation's households own their own place.
spring_valley_home_buying_goo.html This brochure describes how families can get into their own places with little cash up front.
spring_valley_home_buying_fst.html It explains mortgage insurance and how it works, and looks at the two options -- private mortgage insurance and government mortgage insurance.
spring_valley_homes_for_sale_av.html Why Buy a Place.
spring_valley_homes_for_sale_hb.html Place ownership remains one of the highest goals for many people because of its many benefits.
spring_valley_homes_for_sale_goo.html Along with owning your own place comes a sense of security and belonging that cannot be found elsewhere.
spring_valley_homes_for_sale_fst.html For many, place ownership represents personal and financial success.
spring_valley_real_estate_listings_av.html There is much personal satisfaction in living in a place that you own.
spring_valley_real_estate_listings_hb.html A place is still a valued investment which can have many financial advantages and tax benefits.
spring_valley_real_estate_listings_goo.html The amount of interest you pay on a place loan and the taxes you pay on your place are among the few major federal tax deductions.
spring_valley_real_estate_listings_fst.html Owning a place is the primary way most people build wealth.
spring_valley_real_estate_agent_av.html Place ownership is also good for our communities, because families who own their places are more involved in their local communities and participate in local events.
spring_valley_real_estate_agent_hb.html The rewards of place ownership Personal satisfaction Sense of community Tax savings Stability for you and your family Investment in the future Obstacles to Place ownership.
spring_valley_real_estate_agent_goo.html Still, for many Americans, owning a place continues to remain just slightly out of reach.
spring_valley_real_estate_agent_fst.html For more and more families, saving the money for a down payment is the biggest obstacle to place ownership.
spring_valley_home_sale_av.html Many people mistakenly believe that you have to come up with a down payment equal to 20% of the price of a place.
spring_valley_home_sale_hb.html Traditionally, lenders have required that place buyers be able to make a down payment of at least 20% of a place's purchase price to get a place loan or mortgage.
spring_valley_home_sale_goo.html However, mortgage lenders will grant place loans to qualifying place buyers with a down payment of as little as 3 to 5 percent of the purchase price, if the mortgage is insured.
spring_valley_home_sale_fst.html In fact, place loans with down payments of less than 20% are increasingly popular.
spring_valley_real_estate_for_sale_av.html They are called low down payment mortgages.
spring_valley_real_estate_for_sale_hb.html This is good news for the millions of place buyers who are finding it difficult to save a large down payment, especially for their first house.
spring_valley_real_estate_for_sale_goo.html WHAT MAKES LOW DOWN PAYMENT LOANS POSSIBLE.
spring_valley_real_estate_for_sale_fst.html Simply put, mortgage insurance protects the mortgage lender against financial loss if a owner stops making mortgage payments.
spring_valley_mls_listings_av.html Lenders usually require insurance on low down payment loans for protection in the event that the owner fails to make his or her payments.
spring_valley_mls_listings_hb.html When an owner fails to make the mortgage payments, a default occurs and the goes into foreclosure.
spring_valley_mls_listings_goo.html Both the owner and the mortgage insurer lose in a foreclosure.
spring_valley_mls_listings_fst.html The owner loses the house and all of the money put into it.
spring_valley_residential_real_estate_listings_av.html The mortgage insurer will then have to pay the lender's claim on the defaulted loan.
spring_valley_residential_real_estate_listings_hb.html For this reason, it is crucial that the family purchasing the can ly afford it -- not only at the time it is purchased, - but throughout the time period of the loan.
spring_valley_residential_real_estate_listings_goo.html Although the cost of the mortgage insurance is paid by the buyer, or borrower, the mortgage insurer works directly with the lender.
spring_valley_residential_real_estate_listings_fst.html Mortgage insurance is available to commercial banks, mortgage bankers, and savings & loans, and all of which offer mortgage loans to buyers.
spring_valley_realtor_av.html Remember that mortgage insurance is not the same as credit life insurance, also called mortgage life insurance.
spring_valley_realtor_hb.html This type of policy repays an outstanding mortgage balance if the person who took out the insurance policy dies.
spring_valley_realtor_goo.html The Secondary Market The lender's decision to use mortgage insurance is driven by the requirements of investors in the mortgage market.
spring_valley_realtor_fst.html Because of the losses that could occur, major investors require mortgage insurance on all loans made with low down payments.
spring_valley_agent_av.html The three primary investors in loans are Federal National Mortgage Association (Fannie Mae), Federal Loan Mortgage Corporation (Freddie Mac) and Government National Mortgage Association (GNMA).
spring_valley_agent_hb.html By purchasing and selling non-commercial mortgages, Fannie Mae and Freddie Mac help keep money available for s across the country.
spring_valley_agent_goo.html Unlike Fannie Mae and Freddie Mac, Ginnie Mae does not actually buy the mortgages.
spring_valley_agent_fst.html It adds the guarantee of the full faith and credit of the U.
spring_valley_condo_av.html S.
spring_valley_condo_hb.html Government to mortgage securities issued by private lenders.
spring_valley_condo_goo.html The Two Choices Government Insurance and Private Insurance Now that we have explained how mortgage insurance works and why it is necessary, let's look at the basic kinds of mortgage insurance.
spring_valley_condo_fst.html Low down payment mortgages can be insured in two ways -- through the government or through the private sector.
spring_valley_townhome_av.html Mortgages backed by the government are insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) or the Farmers Administration (FmHA).
spring_valley_townhome_hb.html The minimum down payment required by FHA is less than 3%.
spring_valley_townhome_goo.html For single-family s, the standard limit for an FHA-insured mortgage ranges from $86,317 to $170,362 (in certain high-cost areas).
spring_valley_townhome_fst.html Although anyone can apply for FHA insurance, the other two government mortgage guarantee programs are much more targeted.