'Mortgage Strategy' News, brought to you by PROTECT Commercial Insurance >> Commercial lending forecasted to drop for ninth year running – Mortgage Strategy https://lnkd.in/egZPuCn5 #CommercialInsurance #CommercialLending #UKBrokers #MortgageBrokers #IFA #FinancialAdvice

Lenders mortgage insurance can provide property buyers with a head start when they are short on equity. What is it, and what are the pros and cons of accessing it? We discussed this in last week's referrer newsletter. You can read it here - https://loom.ly/9W62MgY

You may have heard that you need a 20% deposit to secure a home loan. If you have less than 20%, you'd usually have to pay lenders mortgage insurance (LMI) - which protects the bank on the off chance you default on your repayments. Good news is there are some scenarios where you wouldn't need to pay LMI, even if you have a smaller than usual deposit: â—½ You have a guarantor, or â—½ You work in a certain industry, or â—½ You qualify for a relevant government grant Get in touch to find out if any of these scenarios could apply to you. #FutureFinanceGroup #FFG #MorningtonPeninsula #Mornington #Langwarrin #MelbourneHomes #QLD #MortgageBroker #FirstHomeBuyer #MortgagebrokerFrankston #MortgagebrokerSandhurst #MortgagebrokerBainsdale #MortgagebrokerCasuarina #MortgagebrokerLangwarrin

🏠 Looking to increase your buying power? Look no further! 💪 💰 When Private Mortgage Insurance (PMI) shrinks, your buying power grows. And guess what? We've got the solution for you! By working with us, you'll gain access to exclusive discounted PMI rates that you won't find at banks, credit unions, or online lenders. 🎉 📞 Don't wait any longer! Give us a call now and let us help you find a better payment plan for your buyer today. 📲💲 #IncreaseYourBuyingPower #DiscountedPMIRates #BetterPaymentPlan

If your down payment is less than 20% on a conventional loan, generally, you can expect to pay private mortgage insurance. But what is it? Private mortgage insurance (PMI) is an additional cost a borrower pays, usually on a monthly basis, to lower the risk to the lender because of your lower down payment.   The good news is that on many loans, you might be able to request to cancel PMI once your principal balance is 80% of the home’s original value, and it may even cancel automatically when your principal balance hits 78%.   The bottom line? PMI makes your monthly payments higher to allow you to put less money down in the beginning. Still have questions? Connect with us today to learn more! Northpointe Bank | Member FDIC

Did you know that certain professionals earning over the income threshold might not have to pay Lenders Mortgage Insurance (LMI)? Lenders often waive LMI for these individuals as they're seen as low-risk borrowers due to their stable profession and high income, even with a high loan-to-value ratio (LVR). Curious if you qualify for an LMI exemption or discount? Reach out to us today to find out! 🏠💼 02 9653 9333. #LMIexemption #MortgageInsurance #ProfessionalBenefits

Access here: https://bit.ly/3xXahHu US #life/#annuity insurers continued to increase allocations to commercial mortgage loan (CML) portfolios in 2023, but problem loans, including those 90 days delinquent, again rose sharply. #insurance #lifeinsurance #commercialmortgage #insuranceindustry

'Mortgage Strategy' News, brought to you by PROTECT Commercial Insurance >> BTL lending falls by more than half in 2023: UK Finance – Mortgage Strategy https://lnkd.in/eNWjxEEk #BTLInsurance #UKFinancialAdvice #IFA #UKBrokers

If your down payment is less than 20% on a conventional loan, generally, you can expect to pay private mortgage insurance. But what is it? Private mortgage insurance (PMI) is an additional cost a borrower pays, usually on a monthly basis, to lower the risk to the lender because of your lower down payment. The good news is that on many loans, you might be able to request to cancel PMI once your principal balance is 80% of the home’s original value, and it may even cancel automatically when your principal balance hits 78%. The bottom line? PMI makes your monthly payments higher to allow you to put less money down in the beginning. Still have questions? Connect with me today to learn more! 720-312-3948 Northpointe Bank

What is Lenders Mortgage Insurance, and do you need to pay it when buying a home? 💸 Also known as LMI, it is an insurance policy designed to protect the lender from financial loss if the borrower can’t afford to meet their home loan repayments. Generally, a lender will only require you to pay for LMI if your home loan deposit is less than 20% of the total value of your property. #AussieMosman #Aussiehomeloans #mortgagebroker #homeloans #finance #mosmanliving #refinance #aussiebroker #investmentproperty #firsthome