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A loan originator is a person who solicits, accepts Before working with a mortgage broker and/or loan originator, you should check the status of each person’s license. You want to verify that the person.va borrowers avoid paying private mortgage insurance, or PMI, a monthly. This insurance helps insulate the home lender from loss if the.
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Another way to get out of paying private mortgage insurance is to take out a second mortgage loan, also known as a piggy back loan. In this scenario, you take out a primary mortgage for 80 percent of the selling price, then take out a second mortgage loan for 20 percent of the selling price.
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