Facts about Mortgage Insurance

Even if you have champagne taste and a champagne budget to match, no one likes spending more money than necessary. Unfortunately, this happens all the time when it comes to monthly mortgage insurance.

Just like the interest rates for a mortgage loan, monthly mortgage insurance also has rates. Just like interest rates can vary among providers, monthly mortgage insurance rates also vary among providers.

How can this affect you?

It’s possible you could squander the benefit of a low interest rate when it is paired with a higher mortgage-insurance rate. Since you could be paying for both interest and mortgage insurance in your monthly mortgage payment, you want both rates to be low.

Here are some of the benefits of using Florida Mortgage Firm in this scenario:

  • Afford more house (less of your money going to mortgage insurance thus more being applied to the price of home)
  • Among the lowest PMI payments in the country
  • Rock-bottom low interest rates
  • OR choose Lender-Paid Mortgage Insurance to eliminate monthly mortgage insurance

If you think you must carry mortgage insurance for your loan, another option is lender-paid mortgage insurance. If you have any questions about this or are currently paying mortgage insurance and want to get rid of it, call us at 813-707-6200.