Don’t Pay Mortgage Insurance Premiums When You Don’t Have To!
By myfirstcho6600809, Jul 29 2019 06:03PM
We have exciting news about how you can avoid paying mortgage insurance premiums if you’re ready to purchase a new home!
What Exactly IS Mortgage Insurance?
Most lenders require that you purchase mortgage insurance if your down payment is less than 20% of the sales price of the home. Essentially, the coverage exists for the lender’s protection.
Lenders consider you a higher risk if you don’t put 20% or more down on your home.
On the other hand, private mortgage insurance (PMI) does offer one advantage.
If you don’t have enough for a down payment, buying insurance is one way to get loan approval now instead of waiting several years to save for a down payment.
Why you NEED US…
Lenders for non-FHA insured loans are supposed to automatically let you know when your loan balance has reached an 80% LTV (loan-to-value) and PMI is no longer necessary, so steps can be taken to cancel the coverage.
However, today your loan is bought and sold so many times that the “notifying” process often slips through the cracks!
How do you know you’re not the one of the thousands still paying for insurance you no longer need? We can help you find out where you stand!
It’s a 30 second call that could be worth thousands!!
Do it now!
Make that call today!