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21 Tarpaulin Way Wareham, MA 02571 Phone: (508) 291-7000 |
Mortgage Insurance |
site design by |
bdk Services |
MORTGAGE INSURANCE OFFERS YOU PROTECTION IN THE EVENT YOU BECOME UNABLE TO REPAY YOUR MORTGAGE |
Provides added protection for you, your family and your home in a turbulent and uncertain economy. |
• Tax deductable for homeowners earning up to $109,000 annually. |
• Mortgage insurance (MI) payments do not fluctuate with the Prime Rate. They remain constant. |
• The Homeowners Protection Act (HPA) requires that borrower-paid mortgage insurance (MI) be cancelled automatically once the borrower has paid down the loan to a loan-to-value (LTV) of 78%, based on the original value of the property. |
• If the LTV ratio decreases to 75% or less, due to an increase in value, your mortgage insurance may be able to be cancelled.* |
*Subject to appraisal and borrower must be in good standing. |
• Helps first-time home buyers qualify sooner. |
A veteran owned business |