Yes, it will help you obtain a larger loan, here’s why. Let's say that you are a family with $42,000 Annual Gross Income and monthly revolving debts of $800 for car payment and credit cards, and you have $10,000 for your down payment and closing costs on a 7%-interest mortgage. Without PMI the maximum price you can afford is $44,600, but with PMI covering the lender's risk you now can buy a $62,300 house. PMI has afforded you 39% more house.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 227262
1 Vantage Way Ste E240
Nashville, TN 37228
Phone: (615) 915-1347
Not a commitment to lend. Additional terms and conditions may apply. USA Lending dba DAS Acquisition Company, LLC is not affiliated with or endorsed by the HUD, FHA, VA, the government of the United States, or any federal, state or local government agency. Corporate address: 12140 Woodcrest Executive Drive, Suite 150, St. Louis, Missouri 63141. Telephone: (314) 628-2000, Toll Free: (888) 250-6522. For complete license information: http://www.nmlsconsumeraccess.org