Buying A Home
Dear Community,
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.
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 Question
Can someone please tell me how we qualified for a mortgage but didn't qualify for mortgage insurance? I am really not understanding.
Re: Mortgage Insurance Question
I'm not really sure what you mean. The only thing I can think of when you say mortgage insurance is the monthly mortgage insurance (PMI) when you do not have a 20% downpayment (some loans don't have PMI even if you have less than 20% down). Basically it's an insurance policy for the mortgage holder incase you default. http://en.wikipedia.org/wiki/Mortgage_insurance
Not "qualifing" is a good thing but I've never heard anyone refer to it as qualifying before. That means you would not have an extra monthly fee. It's not at all connected to being able to qualify for a mortgage.
This is also what I assumed you meant. Mortgage insurance is insurance that covers you in the event you can't make your payment. This is typically reserved for people who put little money down. If you put down the 20% then odds are you're fine. This is different from home insurance, which covers the house and the goods in the house.