With the down payment, mortgage payment, closing costs, insurance and taxes, the first months of home ownership can stress any family’s finances. Fortunately, Insurance and Mortgage Services can lift some of the burden.
For a limited time, we have a lender offering to waive mortgage insurance requirements for most home buyers. Buyers usually need to pay 20 percent down to avoid the need for MI. With this offer, the down payment can be as low as 5 percent.
For an example of the savings, consider a new home owner paying $65 a month for MI. That single buyer could save $5,655 by the time the standard MI requirement ended. The elimination of the mortgage insurance tax deduction in 2014 makes this offer even more appealing.
Lenders usually insist on MI to cover their risks when a down payment is less than 20 percent. This is a rare opportunity, and we’re encouraging buyers to take advantage as soon as possible.
Insurance and Mortgage Services is always looking for ways to make the home buying and borrowing experience better. To learn more or make an appointment, contact us!