Tag Archives: Lenders mortgage insurance

How Much You Can Get Pre-Approved for and Debt to Income Ratio Explained – Boston Mortgage

A common question in the home buying process is how much can I get pre-approved for? The formula lenders use for qualification is called debt to income ratio, known as DTI which is your monthly debt divided by your gross income – income before taxes are taken out.… more

Private Mortgage Insurance Explained Options Explained- Boston Mortgage

Private Mortgage Insurance, otherwise known as PMI, is insurance that protects the lender in case the borrower is unable to pay the mortgage. The benefit of PMI to the borrower on a conventional mortgage is that you may typically buy a home with only a 5% down payment instead of the traditional 20%.… more

Mortgage Loan Brokers in Boston

A mortgage loan broker is basically a middle man of sorts whose main goal is to bring a borrower and a lender together. If you contact a broker in Boston and hire him or her, the broker will search through the many lenders in the Greater Boston area and provide you with the many options which are available.  … more