Since the VA guarantees the lender the top 25 percent of the loan, no mortgage insurance is required. Most conventional loans require a borrower to put down at least 20 percent of the purchase price or pay mortgage insurance. Mortgage insurance can be costly and does not ever go towards reducing your principal balance.
Information! Use the form below to reply to this forum thread or, to reply to an individual post, use the "Quote" button on the relevant post.