Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Mortgage insurance ??
Hi all!
DH and I are in the process of buying our first home (waiting to hear back on our third offer this month). As we go through this, I'm working with two mortgage brokers trying to figure out who to go with. One (we'll call her A) was recommended by our Realtor, the other (B) was recommended by a friend.
Personally, I like B better, but that's neither here nor there.
B is able to get us a better price on mortgage insurance--$4,500 vs $6,550. Our Realtor said she must be lying to us, because mortgage insurance rates are fixed based on credit score or something like that. She said it's formulaic, and you can't really shop around for it.
Does anyone know about this? I'm hesitant to trust anyone who has a financial interest in deals like this. Any help or advice would be appreciated!
Re: Mortgage insurance ??
Monthly payments are capped, usually at ?1,500 or ?2,000 a month or at a percentage of your income. So if you have a very large mortgage, you will need to think about how you will cover any surplus.
Remember that policies won't usually allow claims related to unemployment within the first three or six months so make sure you have savings in place for this period.
early mortgage payoff calculator