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When you’re buying a home, there is a lot to consider and, unfortunately, mortgage insurance can often be pushed to the bottom of the list. It can seem easiest to wrap mortgage insurance into your contract with your lender and never think about it again. What many homeowners don’t realize, however, is that companies such as Equitable Life exist to give you more portability, control, and guarantees when it comes to your mortgage insurance.
One of the biggest mortgage-insurance misconceptions J.W. McCloskey likes to point out is that your coverage amount through your lender will remain intact as your mortgage balance decreases. This is not usually true, as typical mortgage insurance through your lender normally declines as your mortgage balance decreases, but your premiums stay the same. J.W. McCloskey can help dispel the fallacies and, in turn, utilize his extensive knowledge to be honest with you about how you can obtain the best possible mortgage insurance for your home.