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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

Blog Image: How to Make the Most of a Home Inspection Before You Buy

How to Make the Most of a Home Inspection Before You Buy

Once you’ve put an offer on a home, the excitement sets in and you can’t wait to close. But there are some important things that need to take place before that day, namely a home inspection. You cannot see all a home’s issues from a walk-through. You need a professional to dig deep by checking all the inner workings. A home inspection is not typically required by your mortgage lender but is advised so you do not end up with major repairs after the loan closes that might compromise your financial situation. Here’s how you can make the most of your home inspection: ...

November 27th, 2019 | Purchasing a Home, Mortgage Advice, How to Make the Most of a Home Inspection Before You Buy

Blog Image: Happy Thanksgiving

Happy Thanksgiving

We would like to thank all of our customers and wish them a Happy Thanksgiving. Please remember if you are traveling, to be safe. We are so grateful that you have managed to stick with us.

November 21st, 2019 | Happy Thanksgiving, Safe Travels, Happy Thanksgiving

Blog Image: 4 Common Mortgage Refinancing Myths

4 Common Mortgage Refinancing Myths

Refinancing is a word thrown around in the mortgage world and can be a very useful tool for homeowners. But there are plenty of misconceptions about what a mortgage refinance is and what it entails. By understanding the four most common myths about refinancing, you can learn the truth about how a refinance loan could benefit your situation. Myth #1: You Should Only Refinance If You Can Get A Lower Interest Rate Many homeowners think that refinance loans only make sense if current interest rates are lower than their mortgage rate. There are other reasons to refinance though. Borrowers can...

November 13th, 2019 | Refinancing a Home, 4 Common Mortgage Refinancing Myths