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What You Need to Know about PMI

Private mortgage insurance (PMI) is a reality that is hard to escape, especially for first-time home buyers.  PMI does not give the borrower additional homeowners’ insurance coverage but rather protects a lender against loss if the borrower defaults on a loan, and enables borrowers with less cash to have greater access to home ownership. The cost is based on the type of mortgage product you secure, the amount  you borrow for your house and the amount of your down payment, and

When Is Term Life Insurance Right for You?

Many of us believe life insurance lasts for life. After all, it is called “life insurance.” But that’s not always the case. Some life insurance policies last for a shorter period of time, and these types of policies can be very useful. Whole life insurance policies stay in effect for your lifetime, as long as you pay the premiums. Such policies are appealing to people whose dependents will always need to rely on them financially. On the other hand, term life policies can last