Did you know that mortgage insurance covers the lenders risk and not your risk? It’s true, and that’s why we offer affordable alternatives to mortgage insurance at Homesite Mortgage.
Referred to as PMI on conventional mortgages and MIP on FHA mortgages, mortgage insurance is generally required when you are putting less than 20% down or have less than 20% equity on a refinance. Our mortgage bankers are trained to try to find an alternative to mortgage insurance for all of our customers.
There are several different strategies we can employ if your situation allows. From our custom Lender Paid Mortgage Insurance (LPMI), to our Piggyback Loans, and our Single Premium plans we may have a money saving solution for you. Call and speak to a licensed and experienced mortgage banker today…there’s no obligation!