Buying a Home Without Having 20% is Possible
Posted On: December 9, 2024 by Prevail Bank in: Home Loans
(Updated Dec 2024) While putting 20% down on a home loan is the most cost-efficient option long-term, we understand that down payments can be difficult for many borrowers to make. To assist home buyers who are unable to put at least 20% down on a home loan, Prevail Bank offers what is called Private Mortgage Insurance, or PMI for short. PMI does come with monthly premiums that are often included in the monthly mortgage...
The Importance of a Pre-qualification when House Hunting
Posted On: May 31, 2023 by Prevail Bank in: Home Loans
House hunting can be one of the most exciting times in your life. Searching for the home with the perfect back yard, one with just the right kitchen counter space, or one where you can see your children or grandchildren making memories is both exhilarating and sometimes perplexing. How much house can you afford? After all, it’s probably one of the biggest investments you’ll make. So how can a mortgage pre-qualification set your mind at ease? Let’s see how.
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