List Template

Private Mortgage Insurance (PMI) Removal

PMI protects the lender, yet often compounds the flight risk of unhappy consumers. Lenders charge homeowners with PMI if the mortgage balance exceeds 80% of the appraised value of the property. PMI payments are not tax-deductible and costs are typically high. Rates vary according to the length and type of loan and the LTV.

• Target homeowners currently with PMI where their LTV is not below 80%, for a HELOC to pay-down their primary mortgage.
• Target borrowers currently with PMI to a Lender-Paid Mortgage Insurance (LPMI) program which provides significant advantages over the more traditional PMI.