Mortgage insurance ( Assurance hypothecaire) et Escrow account.

Mortgage insurance ( Assurance hypothecaire) Lorsque nous prenons une hypothèque et que le downpayment est inférieur à 20%, la banque nous demandera de souscrire une assurance hypothécaire ( mortgage insurance). L’assurance hypothécaire permet de couvrir les premiers 20% du crédit. Le payment de l’assurance hypothécaire varie en fonction du credit score, du downpayment et du… Continue Reading

Homeready by Fannie Mae

Homeready is designed to facilate the home buying process. It allows homebuyers to put as low as 3% down to obtain a mortgage compared to 3.5% for FHA. Unlike FHA, Homeready requires a credit score of 620 to be eligible. However, with a score of 680 or above, one might be able to benefit from… Continue Reading