Mortgage insurance premiums (MIPs) and private mortgage insurance (PMIs) are lessoning buyers’ purchasing power by reducing the amount the buyer can borrow. Homebuyers should be advised that a large enough down-payment can reduce monthly costs by avoiding mortgage insurance coverage. Check out the article below...

First-time homebuyers have a recorded tendency to overpay on their home purchase. A report by the Federal Housing Finance Agency (FHFA) identifies three reasons for overpayment by first-time homebuyers: first-time homebuyers are more eager to purchase than repeat homebuyers; they are less likely to identify mistakes in an appraiser’s report;...