My eyes pop daily at the inflation rates of basic living expenses.
Wouldn’t it be great to save hundreds or perhaps thousands of dollars this year? Now is the time to ditch the PMI.
If you know someone who has purchased a home recently … keep reading.
Are you a…..
✌️Homeowner: I may have a way to help you reduce your mortgage payment for either yourself and/or someone that you know.
✌️Realtor: Here is a thoughtful idea of how to reconnect with your clients with a purpose of serving them well and reminding them that you are always on the lookout to make life a little bit less stressful.
✌️CPA: During tax time, here is a tidbit of good news for your clients.
✌️Attorney: Here is a simple method to stay in touch with your clients with some beneficial advice.
Ready for it?
Suppose Jane Doe bought a home in 2020 using conventional financing and her down payment was less than 20%….. That means that Jane is paying a monthly PMI (private mortgage insurance) premium.
Additionally, we all know the market value of homes has increased exponentially over the last few years.
Therefore, Jane’s loan to value ratio has been affected in a positive way…. Which means that Jane could possibly get rid of that monthly PMI payment.
Here’s how to ditch the PMI
Take a look at your loan docs … the amount of the payment and the date of which you can request the PMI be removed is somewhere in that sea of papers.
Or call your lender and ask them to explain their process of PMI removal.
Each lender has their own set of rules… some will run their own numbers and some will ask you to provide an appraisal.
Once the process is complete you will see a happy difference in your mortgage payments.
Also, who do you know that purchased a house recently?
Be the light – Spread the good news.
“Look everywhere you can to cut a little bit from your expenses. It will all add up to a meaningful sum.”
Suze Orman
