BENEFITS OF SPLIT MI:
Offers an alternative to traditional Monthly MI loans.
Can be used to qualify more borrowers!
Offers the ability to capture increased market share by providing a unique MI option.
Possibility of qualifying borrowers for larger loan amounts.
Competes effectively with FHA premium structure.
Can be used to grow your Builder, HFA, MCM or Emerging Markets Programs.
- Designed to split the cost of MI premiums into a single upfront and monthly renewal premium.
- The upfront premium can be paid by the borrower or approved third party!
- Sharing the cost of the MI premium and aggressive pricing, gives the borrower a lower monthly MI payment OR allows them to qualify for a larger loan amount.
- Refundability of the Upfront MI Premium to the borrower if the MI is cancelled under the Homeowners Protection Act (HPA)
- Allows for a deferred initial payment.
- Can be a better option over LPMI
- May be tax deductible under certain conditions
Contact me for more information on rates & guidelines or to become an approved broker with Pinnacle Capital!
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