If you’re looking at buying or refinancing a home, chances are you have probably heard a lot about PMI. Private Mortgage Insurance or PMI is insurance that you must purchase if you have less than 20% for your down payment or if you have less than 20% equity when refinancing your home. PMI is usually based on a percentage of your mortgage and can add hundreds of dollars to your monthly payment.
One of the benefits of a BVSCU mortgage is that we do not require Private Mortgage Insurance (PMI). Eliminating PMI from your monthly mortgage payments can make it easier to afford your dream home, free up cash for upgrades, repairs or new furniture or allow you to save money for the future. Call the BVSCU Real Estate Department today at (281) 391-2149 or email email@example.com for a mortgage quote.