Because those who make a down payment of at least 20 percent will be able to avoid
the additional monthly expense of private mortgage insurance (PMI).
When you have accumulated student loan debt throughout college in only six months after graduation, the monthly bills for these loans will become
an additional monthly expense.
Shaun from Smart Family Finance published Smart Family Finance Mortgage Basics: Lifetime and Reverse Mortgages Explained, saying, «While a lifetime mortgage is not right for everyone, it can be a viable alternative for retirees who want a larger fixed income for
no additional monthly expense.
Simply enter in your annual income, tax bracket, current disability insurance percentage, your maximum monthly benefit for your current disability insurance policy, your Social Security disability monthly benefit, any other monthly income sources, and
any additional monthly expenses.
You will have
additional monthly expenses for your home.