Hey guys, I want all my clients to save some of their hard earned dollars. Did you know that an average home buyer is currently paying $83 per month for every $100k of loan they have on their home toward mortgage insurance? On an average loan size of $350,000 that’s more than $290 per month. It’s almost $3,500 a year you are paying.
Private Mortgage Insurance DOES NOT BENEFIT YOU in any way. It is insurance that you pay to a lender to secure the mortgage. It came around heavy after the great recession of 2008-2010 when we had to bail out the private mortgage insurance companies. So what do these companies do now? They charge you an arm and a leg for insurance that benefits THEM not YOU.
Did you know that you can apply to have your Mortgage Insurance removed from your loan? If you are not in an FHA loan then we may be able to help. Since property values have increased 20% in the last 3 years, you may be able to remove your mortgage insurance and put that hard earned money to better use.
So we’re going to be doing a Free Mortgage Insurance Removal zoom webinar on September 9th, with our lender Mandi Henriod to go over the steps and details about getting this extra cost taken off your loan.