For many people, their home is their most valuable asset. But what if you’re injured or lose your job and can’t make your mortgage payments?
A mortgage insurance policy can help keep your home from falling into foreclosure. Private mortgage insurance policies, known as PMIs, are designed to reimburse the lender should you default on your mortgage payment. PMIs reduce the risk to the lender and are required when a borrower puts down less than 20% on a home. Although payments go to the lender and not the borrower, it allows some homebuyers to qualify for a mortgage who normally would not. But, depending on the amount of your down payment, you may be required to carry home insurance and mortgage insurance.
To find out more about mortgage insurance, call us today.
Use videos like this to attract your ideal client through digital marketing on the internet, click here.
Whiteboard Videos for Reverse Mortgage, Financial Advisors, Loan Officers, and Medicare Insurance. Social Media posts for Facebook, LinkedIn , TikTok, Instagram and more!
*******
Read our other blog posts and watch more videos here: