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| LOWER YOUR
HOUSE PAYMENT |
QUIT PAYING FOR PRIVATE MORTGAGE INSURANCE!
PMI INSURES THE BANK, THERE IS NO BENEFIT TO YOU.
SAVE AS MUCH AS $100/MONTH OR MORE.
What is PMI?
PMI stands for private mortgage insurance. When you bought your
home, if you put less than 20% down on a conventional loan,
you are probably paying PMI. Check your mortgage statement or
contact your lender to be sure.
How do you stop paying PMI?
If you have paid your mortgage balance down to less than 80%
of the original purchase price or if your property has appreciated
significantly enough to make your loan balance equal less than
80% of the value, you may qualify to quit paying PMI. Again
to be sure, check with your mortgage lender.
How do I know what my house is now worth so I can apply to quit
paying PMI?
Generally, the Mortgage Company will require an appraisal by
a certified appraiser that states the fair market value of your
home.
What does an appraisal cost?
Burnham Real Estate Appraisals will do an appraisal for you,
see fee
schedule.
Call Burnham Real Estate Appraisals at 757 428 6890 for more
information or any questions you may have. Our advice is free.
We only charge for the appraisal.
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