Zombie in Your Mortgage?

You might be paying for private mortgage insurance (PMI) when it should be dead!

UNDERSTAND PMI

PMI is like a zombie in your mortgage that can live on when it should be dead.  What is it?  How is it calculated?  You need to know your outstanding mortgage loan balance and your current estimated home value to calculate your current loan to value ratio (LTV ratio).  At a 78% LTV ratio, PMI should be cancelled.  We can help you figure it all out.  Read More . . .

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TRACK PMI

If you’ve been paying PMI for a couple years or more, then it is time for a PMI zombie quick check.  Most lenders don’t consider important parts of ending PMI:  market appreciation and home improvements.  All these factors combined can help cancel PMI sooner and save thousands of dollars.   Read More . . .

UNDERSTAND PMI

PMI is like a zombie in your mortgage that can live on when it should be dead.  What is it?  How is it calculated?  You need to know your outstanding mortgage loan balance and your current estimated home value to calculate your current loan to value ratio (LTV ratio).  At a 78% LTV ratio, PMI should be cancelled.  We can help you figure it all out.  Read More . . .

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CANCEL PMI

It could take years for the principal in your home to reach a 78% loan to value (LTV) ratio and cost thousands of dollars before you qualify for cancellation of PMI. You don’t have to wait to cancel PMI.  Read More...

FIGHT PMI

There are lots of home improvements to help build home value. We provide information on practical improvements that add value. Mortgage lenders, home improvement pros and real estate appraisers can help cancel PMI. Read More...

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January 23, 2018 | By

MIP vs. PMI

Mortgage insurance protects the lender against potential borrower default on mortgage loans.  Private Mortgage Insurance or “PMI” is required with most conventional (non-government backed mortgages when the down payment is less than 20% of the home’s value.  That means the loan to value ratio (LTV) is greater than 80%.  The cost of PMI varies based […]

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