Pricing Your Private Mortgage Insurance (PMI)

Most borrowers know well enough the importance of finding well priced mortgage rates, closing costs, homeowner's insurance and other moving related costs but few know that they have a choice in private mortgage insurance. . . . But you do!!!

We are tracking the pricing and guidelines for multiple private mortgage insurance providers and as they come competitively available to the market, we'll make their calculators available to you. At this time, we recommend that once you know the structure of your loan, you shop for your mortgage insurance using the following calculators:

• Radian's PMI Calculator
• Genworth's PMI calculator
• United Guaranty's PMI calculator
• PMI's PMI Calculator
• MGIC's PMI Calculator

Ask your loan officer about the benefits of the different types of private mortgage insurance such as "borrower paid monthly," "lender paid," "split premium" and "single premium" mortgage insurance.  To learn more about these types of mortgage insurance right away, click here. 

 

If you are curious about whether or not your mortgage interest, points or mortgage insurance qualify for a tax deduction, please see this IRS publication for guidance - click here.

Interest Rates - Where They're Headed

While nobody can claim to know where rates are headed, we make a point of knowing more than enough to make accurate, educated guess and equip ourselves with cutting edge tools to ensure that you get the best rate possible. We do this by counseling, tracking and forecasting. As well, our loan officers receive alerts to aid in locking your loan at the optimum time.

All of our loan officers can counsel and track rates for you using cutting edge, web based software that will set target rates for you and automatically shop your transaction 3 times a day until your mortgage interest rate and closing cost specifications are met. It's expensive, but you're worth it! If you would like us to track a target rate for you, please let us know!

While we use many forecast methods and market modeling methods, we encourage you to follow along as well. Here are some forecasts you may be interested in reading:

• Click Here - for short term forecasting
  
• Click Here - for additional short term forecasting
• Click Here - for intermediate term forecasting
• Click Here - for long term forecasting
• Click Here - for historical mortgage rates

Search for a Home in Minnesota

When it comes to searching for real estate online, we invite you to check out the Home Buyers Scouting Report® (HBSR) from Home Buyers Marketing II, Inc. The HBSR is a FREE, secure website that lets you customize your home search and view all the available homes in this market that match your personal search criteria.

And, when newly listed homes that match your search criteria become available, you’ll be the first to know with email alerts from HBM II. Click on the link to start your search or contact me for more information.


The Home Buyers Scouting Report® is provided directly to the buyer by HBM II, a licensed national real estate brokerage service company, not to or through a lender. The FREE home finding service is provided directly to prospective homebuyers by HBM II and its real estate brokers, as part of their ordinary real estate brokerage services. HBM II, Inc. works cooperatively with other real estate agents across the United States in attempting to find ready, willing and able buyers for homes listed for sale. The role of the Preferred Loan Officer is to assist in determining a comfortable home price range for Home Buyers Marketing II, Inc. (HBM II) to use when it is searching for property listings within the buyer’s search criteria.