About Mortgage Insurance
It's a beautiful house, the location is great, the price is reasonable for its size but where will you get the money to buy it? This is a dilemma that many people face when shopping for a new home. With the average income and the cost of living, it often take years to save for a sizable down payment and by the time they have the funds, real estate prices have already increased. Mortgage Insurance is one way of resolving this problem. It acts as a guarantee towards your lender that you will not default on your loan, so you can make a lower down payment on your desired home.