Mortgage insurance - did you know there were different kinds? Janice Roosevelt, Keller Williams Real Estate, PA & DE

By
Real Estate Agent with SUSAN MANNERS TEAM, Berkshire Hathaway Home Services Fox & Roach
http://actvra.in/75Y

One of the lenders we often suggest to client is Pime Lending and Matt Stancato who heads up the Delaware office, had a great piece on the different kinds of mortgage insurance. They offer four kinds.

Single premium MI--a single lump sum paid in advance and partially refundable when the borrower owes less than 80% of the property value.
 
Single Financed MI--same thing, but financed.  Borrower stretches MI over the life of the loan with no monthly payments.
 
LPMI--for a small rate increase, PrimeLending will pay the MI for the borrower.  (This works out best at 85% LTV--otherwise the single financed is the way to go.)
 
Hybrid--finance part, pay part monthly.  Great for borrowers with a set price point in mind.  Remember to ask
 
jrosoevelt@kw.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Groups:
1st Time Buyers
Buyer Information - What Buyers Need to Know in Today's Market
Realtors®
The Lounge at Active Rain
The Ninety-ninth Percentile
Tags:
jrooseveltkwcom
mortgage insurance
prime lending

Comments 2 New Comment

Ambassador
2,270,773
Patricia Kennedy
For Your Home in the Capital
Evers & Company Real Estate, Inc.

Janice, this is information that so many buyers just don't get explained to them.  And it's good stuff to know.

March 24, 2011 09:41 AM
Rainmaker
466,935
Janice Roosevelt
OICP ABR, ePRO,Ecobroker
SUSAN MANNERS TEAM, Berkshire Hathaway Home Services Fox & Roach

Pat, you are right. Perhaps because there IS so much to explain.

March 24, 2011 09:50 AM
Rainmaker
466,935

Janice Roosevelt

OICP ABR, ePRO,Ecobroker
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the house to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Moving to the Brandywine Valley and need the inside story? Where to eat, shop, work-out, hang-out? What neighborhoods are what? Want to know how to save money with a GREEN home? Want the most powerful marketing plan for listing your house? It's all here