Things to consider when applying for Mortgage Insurance

If you have found your dream home, and you are not paying cash, you will need to apply for a mortgage and be approved. Knowing which type of loan works best for you and what payments are needed will help you narrow things down. It is compulsory for mortgage holders to purchase mortgage insurance, however there are still many people paying way more than they should be paying. What is mortgage insurance?   Mortgage insurance is a policy that protects the lender of the mortgage in the event that the person borrowing may die, default on payments, or are not able to…

Protection Insurance For Mortgages: What Are The Benefits And Do You Need It?

Taking out a loan, more so a mortgage can seem scary. Without proper financing and/or household budgeting, this could take a huge chunk of your yearly budget. However, with proper planning, a mortgage doesn’t seem like a bad idea at all. In fact, it goes towards an investment that you can call your own after a few years. However, what if the mortgage is under your spouse’s name, which happened to be the breadwinner, and suddenly the breadwinner gets injured or can’t proceed with work? What if the breadwinner dies? While we don’t want any of those happening, it pays…