Hate paying mortgage insurance?
So do we.
Don’t Get Locked In
Most lenders will tell you that mortgage insurance is required with less than a 20% down payment. This locks you into a higher monthly expense and can be difficult to remove in the future.
There Are Other Options
There are specialized mortgage programs that allow you to buy a home with as little as 3% down payment with no mortgage insurance. This can help you lower your monthly housing expense and increase what you qualify for.
You May Qualify
These low down payment/no mortgage insurance programs work best with borrowers with good credit scores. Contact us in the form below to find out if this strategy would work for you.
Why should I finance without it?
- To increase affordability
- Help lower your monthly housing expense
- In some cases you may qualify for a higher loan amount
- Simplifies the financing process