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David Mully

171 Articles

David Mully is president and CEO of Lender Insider, a mortgage consulting firm. With 26 years in the mortgage industry, he has worked as both a mortgage loan officer and in the business-to-business sector of the industry. He is the former author of the weekly "Mortgage Search" column for Observer and Eccentric Newspapers. You can read his blog at http://www.lenderinsider.com/blog.

Rules Eased for Down Payment Gifts
Home Purchase

Rules Eased for Down Payment Gifts

Young buyers often rely on family assistance in raising the money for a down payment on their first home. Until recently, though, they still had to come up with a big chunk of their own dough in order to qualify for a conventional loan.

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 7 years ago | 1 minute read time
Should you avoid PMI? Or buy now?
Home Purchase

Should you avoid PMI? Or buy now?

It’s a type of insurance no one likes to pay: private mortgage insurance, an insurance that protects mortgage lenders if you eventually default on your mortgage loan. Depending on the size of your mortgage, private mortgage insurance, better known as PMI, can add $100 or more to your monthly mortgage payment if you don’t first come up with a down payment of 20 percent of your home’s purchase price.

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 2 years ago | 5 minutes read time