Learning Center - Carrington Mortgage Services (2)

Mortgage Account

MIP vs. PMI: Mortgage Insurance 101

When navigating the homebuying process, understanding mortgage insurance is crucial for both first-time and seasoned buyers. Mortgage insurance serves to protect lenders if borrowers default on their loans, and is required for certain types of loans. Mortgage Insurance Premium (MIP) and Private Mortgage Insurance (PMI) are the most common types of mortgage insurance. While they serve a similar purpose, there are key differences between the two that can significantly impact your mortgage.

In this article, we'll clarify what MIP and PMI are and guide you on how to determine if you’re eligible to remove mortgage insurance from your payments. Understanding these terms can empower you to make informed decisions about your mortgage.

CCF

Carrington Charitable Foundation’s 12th Annual Golf Classic Recap

Mortgage Payment, Escrow, Property Tax, Buying & Selling

What Your Mortgage Payments Include

As a homeowner, it’s important to understand what your monthly mortgage payment includes. Whether you’re a first-time homeowner or a seasoned pro, knowing the breakdown from principal to property taxes can set you up for future financial success.

Real Estate, Buying & Selling

How the NAR Settlement Helps Buyers and Sellers

The National Association of REALTORS® (NAR) settlement introduces more clarity to real estate transactions by making commission structures clearer and requiring buyer agents to have formal agreements with their clients upfront.

Below, we’ve outlined what you should know about these changes and how they can positively impact your experience when buying or selling your next home:

Refinance, Save Money

Interest Rates are Falling!

With property values remaining strong, now may be the time to make the most of your home’s value. At Carrington, we offer financing with competitive rates and flexible terms, ensuring there’s a solution that works for you. Learn more about your options below, starting with how falling interest rates can help.

Security

Ways to Keep Your Home and Family Safe

As a homeowner, keeping your home and family safe is a top priority. One of the best ways to protect them is by making sure your home is secure. We’ll walk you through common threats and a few awareness and home security tips to better ensure your home remains a safe haven.

Paperless, 2FA, Auto Pay, Security

October is Privacy Protection Month

October is Privacy Protection month here at Carrington, and we want to help you to maintain the safety of your personal information. From choosing secure passwords to paperless document preferences, we’ve got you covered on different ways to ensure your accounts are protected.

Purchase, Buying & Selling

Home Appraisal 101: The Basics

Buying a home is one of the biggest decisions you can make. It’s important to understand the homebuying process, including the appraisal, because a home’s value influences the mortgage terms.

Home Maintenance

Stay Ahead of Seasonal Home Maintenance

With homeownership comes home maintenance, and with each season comes a new set of chores to complete. Keeping your home well-maintained not only ensures the safety of your family and friends, but also helps preserve your home’s value. We’ve compiled a seasonal breakdown of the top items to complete each year. Please ensure your safety with all home repairs and maintenance by hiring a professional for any jobs you cannot manage on your own.

Disaster Assistance, natural disasters, regional emergency

How to Recover After a Disaster

Natural disasters can upend years of hard work and stability in minutes. In the aftermath of a disaster, the most important thing to take care of is the safety and wellbeing of you and your family. Once you know everyone is safe, it’s time to figure out the best way to move forward. 

Carrington Mortgage Services, LLC Learning Center