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Over half of all mortgage loans have private mortgage
insurance (PMI).
A 1998 federal law requires lenders to allow you to drop your
PMI once you have 20 percent equity in your home.
In order to eliminate your private mortgage insurance monthly
payments, your lender will need an appraisal by a state certified
appraiser indicating current market value.
The increased
value of all upgrades & renovations you have
made since purchasing your home will be included in the new appraisal.
Depending on your loan amount, your PMI payment is probably between
$50.00 to $100.00 each month! That's up to $1,200.00 per year,
every year, that you could save.
The one time cost for an appraisal needed to by your lender to
establish your current equity position (loan to value ratio) is
around $350.00 - and that is a one time fee - your PMI payment
is every month!
We could help you significantly reduce your monthly mortgage payments.
E-Mail us right now! Let's get started saving money! Here's how:
Step 1: Contact your lender. Confirm that your mortgage payment
includes private mortgage insurance. Find out precisely what your
lender needs in order to eliminate your PMI payment and where you
must send the information. Most lenders will require a full appraisal
as well.
Step 2: Phone or E-mail Metroplex Appraisal Management to arrange
the proper appraisal. We have the credentials, certifications and
experience to satisfy any lender's appraiser requirements.
Step 3: Send the report to your lender and enjoy your lower mortgage
payment!
It really is just that easy! We have helped thousands of homeowners
over the years.
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