Live Insurance News

The Intersection of Mortgage Insurance and Property Insurance in Today’s Housing Market

March 15, 2025March 12, 2025 Ester Adams

Understanding Mortgage Insurance and Property Insurance If you’ve purchased a home or plan to, understanding the different types of insurance tied to it is crucial. Two key types are mortgage insurance and property insurance, but they serve very different purposes. Mortgage insurance protects lenders in case a borrower defaults on their home loan. It’s usually required when the down payment is less than 20%. The cost of mortgage insurance is based on the value of the property. For example, a more expensive home will generally result in higher mortgage insurance…

I Need to Get a Mortgage – Who do I Call First?

September 21, 2013April 17, 2014 Kirk Chivas

Mortgage rates have risen about 1% in the last 4 months of 2013. We even had some days that rates would rise 4 times in one day (read about that here). Refinancing your loan is no longer the cool topic at the hors d’oeuvre table at the Bunco party or at the water cooler discussion in the office. This is usually the spot where you will find a “topper” or “one-upper” who jumps into the conversation and says “Oh, yeah… Well I got a mortgage rate of 1.99% for 30…

FHA mortgage insurance increases but likely won’t affect the housing market

April 11, 2012 Live Insurance News

Mortgage insurance on the rise but will it effect the market? Beginning on April 10, 2012, insurance rates for the federal housing administration (FHA) mortgages have increased from 1 percent to 1.75 percent, which will lead to a slight increase in the amount that home buyers will be paying. This is the fourth FHA borrowers’ increase in the last three years. The change was created to bring in more than a billion dollars to the federal government by September of this year. This will cause some impact on the actual…