pmi | Something On My Mind

the personal finance blog

Jun 3, 20212 min read

PFT #25 - Rolling In Closing Costs into a Home Purchase or Refinance

Rolling in closing costs into a mortgage avoids paying money upfront, but it is costly and signals a need to save more before buying a home

May 12, 20212 min read

Who are Fannie Mae and Freddie Mac?

Fannie Mae and Freddie Mac are government sponsored enterprises (GSEs). They buy mortgages from lenders to free up capital for borrowers.

Apr 16, 20212 min read

Should You Make Biweekly Mortgage Payments?

Many mortgage companies have a biweekly payment plan to make 13 payments each year. This can you save thousands of dollars interest.

Apr 12, 20214 min read

The 2008 Financial Crisis

The 2008 Financial Crisis was due to mortgage defaults, MBOs, CDOs. AIG needed a government bailout to pay claims and avoid financial ruin

Apr 11, 20212 min read

Loan-to-value (LTV)

Loan-to-value (LTV) is what lenders measure when a borrower buys or refinances a home. The higher the risk, the higher the interest rate.

Jan 6, 20212 min read

PFT #4 - Personal Finance Tip: What is Private Mortgage Insurance (PMI) and How to Get Rid of it

PMI occurs when you do not have at least 20% of equity or 80% loan-to-value when you purchase the home.