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Blog Image: Merry Christmas and a Happy New Year

Merry Christmas and a Happy New Year

All of us at Kings Mortgage Services, Inc. would like to wish you a very Merry Christmas and a Happy New Year! We hope that 2020 is a year full of happiness, health and prosperity for you and your loved ones. All the Best, Kings Mortgage Services, Inc.

December 23rd, 2019 Merry Christmas and a Happy New Year

Blog Image: What Amounts Are Included in My Monthly Mortgage Payment?

What Amounts Are Included in My Monthly Mortgage Payment?

You think you understand how much your mortgage payment is going to be and then your first bill comes. There seems to be more included in your payment than you expected. What are all the different items on your monthly mortgage bill? Mortgage Principal Your mortgage principal is the base amount of money you needed to borrow to buy a home. For example, if you are buying a $200,000 home and you put down $20,000, your principal is $180,000. Almost all home loans are amortized, meaning they are structured so that the amount of principal you repay each month starts out small and increases ove...

December 18th, 2019 | Purchasing a Home, What Amounts Are Included in My Monthly Mortgage Payment?

Blog Image: How to Cancel FHA Mortgage Insurance

How to Cancel FHA Mortgage Insurance

Mortgage loans made by the Federal Housing Administration can be a huge help to homebuyers without a large down payment. FHA loans require down payments of as little as 3.5%. Yet FHA mortgages come with some strings attached, namely FHA mortgage insurance. Almost all mortgage loans made with less than a 20% down payment require some form of mortgage insurance. This insurance protects the lender against losses from the borrower defaulting in the first several years of the loan. It is typically paid monthly and is tacked onto the mortgage payment. With conventional loans, borrowers pay privat...

December 4th, 2019 | Government Loans, FHA Loans, How to Cancel FHA Mortgage Insurance