Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
Under an annual plan, an initial one year premium is collected up front at closing, with monthly payments collected along with the mortgage payment each month thereafter. Monthly plans allow a borrower to pay only 1 or 2 months worth of premium at closing, and then on a monthly basis along with the regular mortgage payment. Under a single premium plan, the entire premium covering several years is paid in a lump sum at closing. Typically, homebuyers choose to add the amount of the mortgage insurance premium to the loan amount. By doing this, homebuyers can reduce their closing costs and increase their interest deduction.
- Should You Refinance? Make Sure the Timing is Right
- Home Equity Loans for People with Bad Credit
- Alternatives to Getting a 2nd Mortgage
- Short Selling a Rental Property
- What Lenders Don't Reveal About Home Equity Loans
- Second Mortgages: Advantages and Disadvantages
- 3 Factors that Can Negatively Affect Your Mortgage Application
- FHA Loans for a First-Time Home Buyer
- How to Get Approved for an FHA Loan despite Bad Credit