Getting Rid of Private Mortgage Insurance
When purchasing a standard mortgage from a private lender, you may be required to purchase private mortgage insurance (PMI). However, PMI can be costly, usually charging you ...
VA Mortgage
We’re proud to honor your service
A VA mortgage provides home financing guaranteed by the U.S. Department of Veteran Affairs for qualified veterans, reservists, active duty personnel, or eligible family members. Low down payment options are available. As an active duty or veteran member of the armed forces, you’ll need to show a copy of your DD-214 or current military ID, or a Salem Five loan officer can help obtain your DD-214 for you.
- Flexible income, debt, and credit requirements
- Private mortgage insurance is not required
- Available in a variety of fixed rate and adjustable rate loan options
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Other Articles of Interest
House, Townhome, or Condo?
The real estate market offers many different housing options. Depending on your life stage, financial resources, and where you are on your financial journey, one ...
Building Equity in Your Home
If you own a home, the mortgage payments you make each month could help you build a substantial asset - home equity. The home equity you build represents how much ...
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Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.