Securing a property mortgage can feel like navigating a complex maze, but it doesn’t have to be! Knowing the different types available is key to finding the best rate for your specific situation. This comparison explores several key elements to consider, including standard versus variable interest options, fees, and the total price of borrowing.
Sidestep LMI: Strategies to Bypass Lender's Mortgage Insurance
Buying a home is an exciting milestone, but the costs can quickly add up. One expense that often catches buyers off guard is lender's mortgage insurance (LMI). This extra fee protects lenders in case you default on your loan. Thankfully, there are strategies to avoid LMI altogether and save your money in the long run. Primarily, consider maki