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Is Private Mortgage Insurance The One Made For You?

These are the insurance plans designed to help buyers buy their dream home with a down payment less than 20 percent of the total loan value. Young homebuyers can pay an affordable monthly premium and protect their house against unexpected events of life.

RyanPolimeni
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Is Private Mortgage Insurance The One Made For You?

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  1. Is Private Mortgage Insurance The One Made For You?

  2. What Private Mortgage Insurance? These are the insurance plans designed to help buyers buy their dream home with a down payment less than 20 percent of the total loan value. Young homebuyers can pay an affordable monthly premium and protect their house against unexpected events of life.

  3. Why Should You have a PMI? Benefits of having a Private Mortgage Insurance: Lower Down Payment: Young homebuyers with fewer savings can also buy a house by paying a smaller down payment. Affordable Premiums: Insurers are providing insurance plans are very cheap monthly premiums. Assistance When Needed: A guaranteed monthly income is provided in case of a job loss, falling ill or meeting an accident.

  4. Types of PMI Mortgage insurance offers a range of policies including: • Borrower-Paid Mortgage Insurance • Lender-Paid Mortgage Insurance • Single-Premium Mortgage Insurance • Split-Premium Mortgage Insurance Borrower-Paid Mortgage Insurance These are the most common mortgage plans in which the borrower pays a fixed monthly premium to the provider and they help with a guaranteed monthly income in case they go off work due to undesirable circumstances.

  5. Lender-Paid Mortgage Insurance Under these plans, the lender provides a guaranteed monthly income if the borrower goes off work and the insurer compensates for the outstanding loan if the borrower can’t pay off the loan. Single-Premium Mortgage Insurance These are plans where the buyer needs to make one accumulated payment and the insurer will take care of mortgage payment during tough days of life. Split-Premium Mortgage Insurance These plans provide the option to pay the premium into a certain number of installment as per the convenience of the insured and protect their house.

  6. Cost of PMI The cost of these insurance plans depends on various factors including: • Type of plan • Loan Term • Fixed or adjustable interest rate • Amount of coverage • Loan-to-value ratio (LTV) or down payment Other Options FHA Mortgage Insurance tops among other solutions available as the federal government is helping buyers get their own home at very affordable rates.

  7. Get Insurance at Best prices! Optinsure has been helping interested buyers receive mortgage protection quote from a range of top and popular providers. Compare the quotes from multiple providers easily and choose an affordable plan with preferred benefits. Website: https://optinsure.com Tel: 1 (908) 232-9968 Email: quote@optinsure.com

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