If you plan on working and living in your current area for
several years, then start saving up for a down payment on a
mortgage and researching what
kind of home loan you qualify for.
Mortgage loans are available from several different kinds of lenders that include thrift institutions, credit unions, mortgage companies, and commercia
Mortgage loans are available from
several different
kinds of lenders that include thrift institutions, credit unions,
mortgage companies, and commercia
mortgage companies, and commercial banks.
As noted above, and like many
mortgage - related things, your
mortgage insurance premium is based upon
several factors, including your credit score, the amount
of your down payment as a percentage
of the value
of the home (LTV); your choice
of mortgage product (fixed rate or adjustable rate — and how frequent the rate adjustment will be); the length
of the term
of your
mortgage (15, 20, 25, 30 years), the amount
of the
mortgage and
of course the level
of coverage the investor requires for your
kind of loan and borrower profile.