Monthly FHA mortgage insurance payments are between 0.15% and 0.75% of the loan amount. Some borrowers may be able to reduce their mortgage insurance premiums once their loan-to-value ratio hits 20%.

However, that flexibility comes with a mortgage insurance requirement, which consists of an upfront payment worth 1.75% of the loan amount and an annual premium between 0.45% and 1.05%.

There are a few types of borrowers who could benefit from refinancing their mortgages right now. Getty Images While rates have been cooling, today's high-rate environment has made it challenging ...

Mortgage brokers: Mortgage brokers are independent, licensed professionals who serve as matchmakers between lenders and borrowers for a small fee — usually 1 to 2 percent of the loan amount.

Refinancing your mortgage means taking out a new home loan to replace your existing one. Homeowners often refinance to change their rate or term, to access cash from the value of their home, to ...

For example, say the rate is 6% and you have $250,000 in bank deposits, which might reduce the rate to 5.75%. Bring more than $1 million, and you might get a 5% interest rate. While not all banks ...

A mortgage is a type of loan specifically used for the purchase of real estate. In a mortgage agreement, you obtain money from a lender, typically a bank or other financial institution, to buy a ...