Yes, it will help you obtain a larger loan, here’s why. Let's say that you are a family with $42,000 Annual Gross Income and monthly revolving debts of $800 for car payment and credit cards, and you have $10,000 for your down payment and closing costs on a 7%-interest mortgage. Without PMI the maximum price you can afford is $44,600, but with PMI covering the lender's risk you now can buy a $62,300 house. PMI has afforded you 39% more house.
We've been helping customers afford the home of their dreams for decades and we love what we do. We are licensed mortgage brokers with the Florida Office of Financial Regulation license #MBR5349 We place loans with third party providers
Company NMLS: 2368408
www.nmlsconsumeraccess.org
6245 N Federal Hwy. #419
Fort Lauderdale, FL 33308
Phone: (845) 548-7105
benny@bestmortgageoption.com
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