05.09.12Home Financing Made Easy!
Financing a home is easier, these days, than many
people think. While it is true that the documentation process requires more, it
doesn't mean t... Read More
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NO PMI Payments!
January 18, 2012
Looking for
affordable and stable options in financing a home? How about an equity building
conventional 30 year fixed and no pmi?
What is the relevance
of pmi? What is pmi? PMI is private mortgage insurance. It is to protect the
lender in the event you default on a mortgage. If they have to foreclose, then
they have a third party that will help to offset some foreclosure expenses.
Typically, a
borrower is viewed as more of a risk if they don’t put down 20 percent of the
sales price. The reason being is that the lender may not be able to sell the
home for what is owed with some lesser down payment programs. When the payoff
is short of the value of the home, it is considered a short sale. Here is a
link to look at this situation http://mortgage-wiz.com/20/news-Short-Sale/
The point is that
when you don’t put down 20% percent, you have an added monthly cost of paying
for the cost of the pmi. With Capgrow’s 5% down and no pmi option, you get a
great fixed rate and lower monthly payment! Call now to see if
you qualify! Rick Whisman (314)
609-0565
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