What is mortgage insurance? Mortgage insurance, or MI, gives eligible homebuyers the flexibility of making a smaller down payment by lowering the risk to the lender originating the loan. Without mortgage insurance protection, lenders normally require a borrower to make a down payment of at least 20% of the home’s sales price. Many first-time homebuyers …
Mortgage Equity Partners: A local lender supporting the local community
Mortgage Equity Partners: A local lender supporting the local community Mortgage Equity Partners is an independent mortgage banker headquartered in Massachusetts that plays a significant role in community development and building strong communities by financing local home purchases. We believe that homeownership is the cornerstone of strong communities. In our philanthropic work, we seek to …
The Children’s Room and Mortgage Equity Partners: Beacons of hope for grieving children and families
The Children’s Room and Mortgage Equity Partners: Beacons of hope for grieving children and families Grief is a natural response to loss, and yet navigating its complex maze can be an isolating experience, particularly for children. There are many barriers to finding emotional support for bereaved children. Often, primary caregivers are overwhelmed with grief, are …
How to find the best local mortgage lender
How to find the best local mortgage lender Finding the best local mortgage lender is a critical decision shaping the homebuying process. Choosing the right lender influences every financial aspect of your home purchase, with long-term financial implications, and affects your overall satisfaction with the home loan process. Having the right lender can make or …
What are the steps in the homebuying process?
What are the steps in the homebuying process? If you are one of many first-time homebuyers taking the leap this spring, you need to know the essentials before beginning the homebuying process. Steps in the homebuying process 1. Are you financially prepared to buy a home? The most important thing to know is if you …
Top 7 options for closing cost assistance
How to beat the closing cost doldrums Are you in the final stretch of buying your first home, only to be surprised by unexpected closing costs? If you’ve been diligently saving for your down payment, additional expenses like closing costs can take a big bite out of your budget. Imagine you’ve managed to set aside …