Mortgage Insurance Relief through Refinancing

– Crystal Vagnier – Select Group – Writer/Editor

For most home loans a requirement of Mortgage Insurance (MI) is necessary when a loan-to-value (LTV) ratio is above 80%. But paying Mortgage Insurance can become unwieldly on top of monthly bills and regular mortgage payments. However, if your LTV finally reaches 80% or lower with consistent mortgage payments, then refinancing is a great option to eliminating MI payments. Think of the additional savings that can be applied to your other financial needs! In addition to eliminating MI payments, refinancing could also potentially lower your monthly payments and expenses. You can calculate your LTV by dividing the current balance of your loan by the current value of your property.

Contact one of our Stanford Mortgage Advisors to see if you’re eligible for refinancing and what your mortgage options are at (866) 912-3017. Start saving money today!

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This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for
financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision.