How to Cancel your Mortgage Insurance

Dean-Hayes

Content provided by Dean Hayes, Bay Equity Home Loans

Nearly 4 out of 10 people don’t know that you can buy a home with less than 15% down. When you do, you will be paying mortgage insurance – an insurance policy that protects the lender in case you don’t make your payments and default on your home loan.When-can-I-Cancel-my-Mortgage-Insurance

Many people believe mortgage insurance is a waste of money and want to get rid of it as soon as possible. Actually, I can show you the math where mortgage insurance is a very inexpensive alternative to the cost of waiting, but that’s another post.

If you have mortgage insurance on your home mortgage and want to get it removed, we have to first start by identifying the type of mortgage that you have.

Click here to view this blog in its entirety.