Mortgage & Money
Financing, refinancing, insurance, and cash flow.
Why You Got an Escrow Surplus Check This Year (Explained)
A $50-or-more escrow surplus triggers a mandatory refund check within 30 days under federal RESPA rules, and here's why yours showed up now.
Why FHA Mortgage Insurance Doesn't Go Away Like PMI
FHA loans with less than 10% down keep mortgage insurance for the life of the loan, unlike PMI which drops off automatically at 78% LTV.
Why Did My Home Insurance Premium Go Up This Year?
Home insurance premiums rose a median of 11% to 20% in 2024, driven by rebuilding costs, reinsurance rates, and more frequent severe-weather claims.
Where Your Old Escrow Balance Goes After a Refinance
Your old escrow balance is refunded to you by check within 20-30 days of your refinance closing, not automatically applied to the new loan.
When Does PMI Automatically Cancel by Law? The 78% Rule
Federal law requires PMI to automatically cancel once your loan balance hits 78% of the home's original value, if payments are current.
What's Really Included in Mortgage Closing Costs?
Closing costs typically run 2% to 5% of your loan amount, so a $350,000 mortgage can mean $7,000 to $17,500 due at signing.
Escrow Payment Jumped? Here's Why and What to Do Next
An escrow payment jump of $100-$400 a month usually traces back to a property tax reassessment or insurance renewal, and most shortages can be spread over 12 months.
What Is Escrow? A Plain-English Guide for Buyers and Sellers
Escrow is a neutral third party holding money or documents during a home sale, and later a lender account that pays your taxes and insurance.
What Is a Mortgage Rate Lock? How It Works & What It Costs
A mortgage rate lock freezes your interest rate for 30-60 days while your loan closes, protecting you from rate increases before signing.
What Is a Homeowners Insurance Deductible? A Plain Guide
A homeowners insurance deductible is the amount you pay out of pocket, often $1,000 to $2,500, before your insurer covers the rest of a claim.
What Homeowners Insurance Doesn't Cover — 7 Gaps to Know
A standard homeowners policy skips flood damage, earthquakes, sewer backups, and normal wear — gaps that cost homeowners thousands out of pocket each year.
HELOC Repayment Period Starts: What Changes and Why
A HELOC's draw period usually lasts 10 years, and when repayment starts, payments can jump 50% to 100% as principal gets added in.
Get mortgage & money tips by email
Refinance timing, PMI removal, and the numbers worth double-checking. No schedule, no spam — unsubscribe anytime.
Prefer to dive in? Get started free →