freddie mac: How Can You Cancel Private Mortgage Insurance on a Conventional Loan?
- 02/19/14 01:46 AM
When Can You Cancel Private Mortgage Insurance? Commonly known as PMI, this is a frequent question and one that is more common now due to the recent FHA mortgage insurance changes. Click here to learn more about the benefits of PMI.
How To Cancel Private Mortgage Insurance Per the Homeowners Protection Act of 1998, it requires automatic termination of mortgage insurance when the principal balance of the mortgage is first scheduled to reach 78% of the original value of the home if the borrower is current. If the borrower is not current on that date, mortgage insurance gets cancelled on the first … (0 comments)
freddie mac: What Are The Benefits of Private Mortgage Insurance?
- 02/18/14 01:47 AM
What Are The Benefits of Private Mortgage Insurance for Conventional Loans? Commonly known as PMI, many only think of it as a negative, but this short video tip will keep you in the know about the facts and be thankful for the benefit it provides to buyers who plan on buying a home with a down payment of less than 20% of the purchase price.
Due to the recent FHA mortgage insurance rate increases, private mortgage insurance can offer reduced cost and more flexibility with how it can be structured based on what is best for your scenario. You can expect … (0 comments)
Sean Stephens has an expertise in mortgage lending with experience since 1998. With his extensive loan knowledge, Sean has dedicated himself to become the “USDA Loan Pro” and help people discover the many benefits of the USDA Rural Home Loan Program along with how it can empower them to homeownership.
In 2001 he founded Metroplex Mortgage Services, Inc. in Tampa and since then has built a team laser focused on helping homebuyers navigate the financing maze of VA, FHA, Conventional, and of course the USDA program.
Sean currently holds his mortgage license in Alabama, Florida, Tennessee, and Texas. And best of all, he loves what he does!
When Can You Cancel Private Mortgage Insurance? Commonly known as PMI, this is a frequent question and one that is more common now due to the recent FHA mortgage insurance changes. Click here to learn more about the benefits of PMI.
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