Tag Archives: mortgage insurance

Paul Asks… I’m a veteran and want to buy a house ~ is it a good idea for me to use my VA eligibility?

Yes!  If you are a veteran and have VA eligibility then I would highly advise you to learn as much as you can about the VA home loan programs. ALMC Mortgage can help you determine if this is a good … Continue reading

Andrew Asks… I want to buy a home but am having trouble saving money for a down payment. Any advice?

Andrew, You are not alone when it comes to finding out that saving money for a down payment is quite challenging. In a recent survey conducted by Trulia, 70% of people said that owning a home is ultimately part of … Continue reading

John Asks … I have a contract to buy a foreclosure and the agent is telling me that I should use HomePath financing. Is that a good idea?

Hi John, first of all let me just say that HomePath financing through Fannie Mae can make buying a foreclosed home much easier on you. In fact, more and more foreclosed homebuyers are learning that HomePath financing allows you to … Continue reading

Ruth Asks… I am buying a house and have 10% down. I’ve been told I have to pay Mortgage Insurance – what is that exactly?

Mortgage insurance is a financial guarantee to your lender.  It helps to eliminate losses, in the case that you default on your loan. In other words, mortgage insurance takes the risk of providing an individual a mortgage loan, and spreads … Continue reading