PMI WEIGHS HEAVIER THAN RATES!
Many savvy borrowers are willing to listen to this logic as I explain how we can eliminate
Private Mortgage Insurance (PMI). If your loan amount is over $100K it would be worth while to eliminate that PMI add on even if it means a higher rate!
1. The rate will not go high enough to negate the $100+ PMI payment
2. FHA requires PMI for the life of the loan now
3. PMI is not tax deductible if your income goes over a certain dollar amount
4. Interest is ALWAYS tax deductible.
This month alone:
Matt B. saved $188 by refinancing his monthly PMI into a PayAdvantage including it in his rate!
Corey S. saved $106 even though his rate went up 1%
Luke S. saved $198 by eliminating his PMI
To Matt, that means a saving of $24,000 over ten years! Corey will save $29,888 and Luke will save over $24,000 over the next ten years!
If you were fortunate enough to get an email and or letter from us, get in touch with us! Let us save you some serious dollars every month. On average the above loans would have carried PMI for another ten years! 262.560.9841
Rates have dropped 2xs Today! What are you doing
to Improve your Loan or Purchase?
If your thinking of purchasing or building with LOANS 4 HOMES,
contact us about a USDA loan.
With the exception of one county, the state of Wisconsin qualifies for this loan program!
Federal Housing Administration (FHA) loans
have become more Expensive and more Restrictive!
If you are thinking of buying a home soon, or refinancing your FHA loan, you should be aware of the following changes:
- FHA increased the annual mortgage insurance premium by 10% for new mortgages under $625K.
- FHA will require new FHA borrowers with a loan to value ratio greater than 90% to continue paying annual for the LIFE of their mortgage ( until they sell or refinance out of FHA ). For those with a loan to value under 90%, MIP (mortgage insurance premiums) must be paid for 11 years instead of 5. This change goes into effect June 3, 2013.
*Not only can you save on the interest rate and monthly payment, but dependent upon your current rate and balance, you could end up crediting an additional $50 to $400 per month from interest to paying down your principle balance! (We can calculate this for you if you give us a call.)
If you are currently an FHA customer, please call me at LOANS 4 HOMES so that we can make whatever changes are necessary to get you into a better situation. Paying PMI for 11 years or more results in tens of thousands of dollars that you could be using to pay down your principle! 262.560.9786 Let me tell show you how to convert your FHA to a Conventional with a lender paid insurance program.
Welcome to LOANS 4 HOMES!
At LOANS 4 HOMES we are committed to providing clients with high quality home loans combined with some of the lowest mortgage rates available in all of Wisconsin. Whether you are first time home buyer, refinancing an outstanding loan, or consolidating debt, our highly experienced team of mortgage brokers can help simplify the process for a smooth transaction with no surprises.
Our staff at LOANS 4 HOMES has over 26 years of experience in the real estate market cumulatively, and come from varied backgrounds such as, appraisal, real estate brokering, marketing, small business administration and public relations to name a few. Honor and integrity are the daily mantra for our LOANS 4 HOMES offices.
We have a sincere dedication to customer service and satisfaction. At a time when people need a trusted advisor, LOANS 4 HOMES provides a broad coverage of mortgage products, debt management and a network of companies to assist our borrower in investments, trusts, insurance, etc.
LOANS 4 HOMES offers options for debt management that borrowers have not yet been exposed to in this country. Teaching our clients about this process affirms our commitment to foster their financial growth and success.
At LOANS 4 HOMES, our ultimate goal is to create lasting relationships with each of our clients so that we may continue providing excellent service for many years to come.
LOANS 4 HOMES specializes in the following Mortgage Loans:
- 100% Purchase Programs through USDA
- FHA and Community Purchase Programs
- Streamling FHA and Freddie Mac
- Refinance and Equity Loans
- Investment Properties and Commercial Loans
- 2nd Homes Condominiums PUDs
- Interest Only Fixed and ARM Products
- 2nd Mortgages up to 100% for scores 700 and better
- Builder Specs and Built to order
LOANS 4 HOMES is centrally located in Oconomowoc, Wisconsin, right off I94 between Milwaukee and Madison. We are 100% referred for one reason alone…we treat each and every customer as family.
Check out the list of our strategic alliances under local resources and professionals. We guarantee these businesses will offer you as great of service as LOANS 4 HOMES does.
Call Us Today! 262.560.9786 Loans For Homes