Posts Tagged ‘mortgage insurance’

Is it a bad idea to get CMHC mortgage insurance when buying a house?

My friend is planning to buy a house in Ontario. He’s pretty young, in his 20s and he might buy another house when he starts a family. He asked me if its a bad idea to get CMHC mortgage insurance when buying a house? Does it put a black mark on his credit record and effects him when buying another house later on? Also I heard, starting October everyone in… Continue reading

How do I eliminate paying mortgage insurance in Real Estate investing?

I want to minimize loan payments in my Real Estate business & I know that one way of doing this is by eliminating the need for paying mortgage insurance but am at a loss how to go about it . I , therefore need some quick solutions, plse.… Continue reading

What is a 75/25 mortgage and how does it work? Would I be making 2 mortgage payments a month?

My broker is suggesting a 75/25 mortgage which he says is good because you do not have to pay mortgage insurance, but does anyone know other details about it? Thanks!… Continue reading

My Mortgage Insurance was financed with the home and does not appear on 1098, can I still deduct it?

My Mortgage Insurance was financed with the home and does not appear on 1098, can I still deduct it? and if I can how?
The amount is over 2K and it is listed on my Settelment Statement. Mortgage is though Bank of America. I was planning to call IRS and my bank but they are closed on the weekends.… Continue reading

What are your thoughts on mortgage insurance?

I’m in the market for a house and read about mortgage insurance. Is it good to have and what the difference between that and homeowner’s insurance?… Continue reading

What are the monthly expenses that would be added to my monthly mortgage?

1)I am planning to buy a new home for the first time . What expenses(payment) would be added to my home mortgage like home insurance, mortgage insurance etc?
2)How can I lower my monthly mortgage? Some of my friends told that I have to pay at least 20% down payment rather than paying those amount after one year or so to lower monthly mortgage .
Thanking in advance.… Continue reading