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There has never been an easier time to remove mortgage insurance from your home loan, even for those who just acquired a mortgage insurance loan in the past year. Here's how we're making it simple for you.....
We’re getting waivers on appraisals for nearly 90% of our loans these days. What does that mean for you? Well, you may be able to qualify on a higher value than your home is actually worth. So if you think you don’t have the 20% equity needed to get rid of your mortgage insurance, you may want to think again! It doesn’t hurt to check with us to see if we can help!
Equity At All-Time HIgh
Home values are up and equity is at an all-time high of $6.3 trillion.
It’s estimated that 45 million borrowers have at least 20% equity, and with quite a few still having mortgage insurance on their loan.
Plus, over ½ of those borrowers have rates above 4.25% and ¾ have rates above 3.75%.
With rates dropping down below 2-year bests and nearing historical lows, the opportunity has never been better to revisit your home loan for improvement.
Some folks are finding they can get some equity (cash-out) without increasing their payment.
Others are taking advantage of the ability to lower their term while keeping their payment the same, or dropping back in term to maximize monthly cash-flow.
Whatever your goals, we’re happy to review with you…don’t hesitate to contact us!