Showing posts with label Mortgage insurance. Show all posts
Showing posts with label Mortgage insurance. Show all posts

Private mortgage insurance or MI


Private mortgage insurance or MI is a type of insurance provided by a private mortgage insurance company to protect a lender in the event of default on a loan. This type of insurance is generally required when a borrower has less than 20% equity in a home; i.e. the loan amount divided by the property value is 80.01% or greater.

Why does PMI exist? 
Mortgage companies have found that those with less that 20% equity are more likely to default on a mortgage.  The good news is that PMI allows homeowners to get into a house at good mortgage rates with less than 20% down.  That's about 1.5 Million homeowners in 1999 - about 10% of all mortgages. 
The purpose of PMI is to pay the mortgage company if the homeowner defaults on the mortgage.  

Who pays for private mortgage insurance?
The borrower pays for mortgage insurance on a monthly basis in addition to the principal and interest payments that are made on a loan. The lender then transfers these premium payments to the mortgage insurance company.

Besides a monthly premium, are there any upfront fees to pay?
Yes. MI companies offer several options to the borrower at the time of closing. A monthly premium plan requires two monthly premiums be paid during the closing, with a set monthly premium due thereafter as part of the required mortgage payment.
An annual plan requires one year of premiums paid at time of closing, with a lower monthly premium due thereafter.
It is generally recommended that the borrower choose the lower upfront insurance premiums at time of closing with a slightly higher per month premium due thereafter.

Do I have to pay mortgage insurance if I have less than a 20% down payment for a home?
No. There are several ways to avoid private mortgage insurance premiums.
The first is to purchase a home with a combination first and second mortgage. The first mortgage would be limited to 80% of the home's appraised value. The second mortgage, which would close in conjunction with the first, would then provide for the difference between the home's purchase price, less the 80% first mortgage, less the down payment available . In other words, if you have a 10% down payment available, your first loan would provide for the 80% mortgage with a second mortgage of 10%. This is commonly referred to as an 80 -10 -10 transaction.

Another way to avoid incurring MI payments is to find a lender that offers self-insured programs. This type of loan would have a higher interest rate in place of the private mortgage insurance premium. While mortgage insurance premium payments are not tax deductible, the interest associated with a self-insured mortgage would be fully tax deductible.

The decision of whether to obtain a loan with mortgage insurance versus the above two options should take into account the combined total monthly payments of the various options, adjusted for the tax benefits of interest deductions.

Once my loan to value ratio drops below 80%, can the MI be removed?
Yes. Lenders will allow borrowers to remove the MI requirement once the property's appraised value increases such that the loan to value ratio is below 80%. The reality of trying to accomplish this can be somewhat challenging. Usually the lender will require that an appraisal be done by the lender's approved appraisal companies. Contact your current mortgage holder to determine their policy on removing mortgage insurance from an existing loan.

Another means to remove the MI is to refinance the original mortgage with the higher appraised value used to determine the new loan's loan to value ratio. However, if the current first mortgage held b





When you think your home has appreciated to the point where you have enough equity to cancel your monthly PMI (Private Mortgage Insurance) payments - what do you do next?

You're not the only person to ask this question.  With the advent of 95%, 97%, and even 100% purchases, more and more people are putting less money down and counting on future appreciation.  That's about 1.5 Million homeowners in 1999.

Keep in mind that you need 20% equity to proceed.  There is a quick way to do this calculation:

Multiply your current loan balance by 1.25.  Your home has to be worth at least this much to legally get rid of the $40 to $120 premiums you pay every month.  

The 20% in equity can be earned by paying down the mortgage over time, appreciation, or home improvement.

Or of course by refinancing your loan.  Then the LTV (and PMI amount) is based solely on the appraised value and new loan amount, which makes a lot of sense if rates are lower now than your current rate, or if you PMI amount drops enough.
Or you can consider re-structuring your loan so you will not have PMI.

Why does PMI exist? 
Lenders have determined that those with more than 20% equity are less likely to default on the mortgage.  PMI allows homeowners to purchase a home with less than 20% down by insuring the lender against default.  

If not for PMI, everyone would be required to put at least 20% down on the mortgage. 

What has changed, I hear it's hard to get rid of PMI?
The Private Mortgage Insurance act took effect in July of 1999.  It gives homeowners a number of rights.

1) Lenders have to give you a written statement explaining that you have PMI and when you'll be allowed to cancel it.
2) The lender must allow you to cancel PMI when your equity is 22% or more.
3) And you can ask for permission once your equity reaches 20%.

The new law only affects new mortgages funded after July, 1999, but Fannie Mae and Freddie Mac have said they will apply the new rules to the older loans.

First Step - what is my home worth?
For a start, you can find online home valuation estimations on the web and get a rough sense of what your home is worth.  But sometimes the web sites can be off the mark.  And most importantly, these valuations are not acceptable for PMI cancellation purposes by the largest owners of PMI-insured mortgages - Fannie Mae and Freddie Mac.

Homeowners can also contact a local appraiser and ask whether they do "PMI Cancellation Consultations."  Some local appraisers will do a quick check for you for a small fee.  BUT, that will only tell you if you're in the ballpark.  The good news is that most of these appraisers will credit that small fee towards the full appraisal you'll need to cancel PMI.

I think my home is worth enough, what do I do next? 
To qualify for the cancellation, you'll have to demonstrate to the lender that the property is as valuable as you think it is.  
Don't hire someone and pay for a full appraisal before contacting the lender that services your loan.  

Under Fannie Mae and Freddie Mac rules, it is the lender-servicer, not the homeowner, who much choose the appraiser.  If you pay $300 for an appraiser, you're gambling that the servicer will accept that appraisal.  Fannie Mae requires that all of it's PMI Appraisals be ordered by its servicers from it's network of approved appraisers.

Request in writing to your current lender-servicer that the PMI be cancelled, and ask them to order an appraisal to verify the equity if you are depending on appreciation or home improvement to earn the equity.  If you have paid on the mortgage to such a point that you have 20% in equity, they can cancel without an appraisal in some cases. 

When can't I cancel PMI? 
The new laws apply to loans funded after July of 1999.  However, Fannie Mae and Freddie Mac have said they would honor the new laws on the old loans.  However, you need to review your loan document with your lender, some lenders require 25% equity.

FHA loans are not required to drop PMI under the same rules as conforming loans - if you have an FHA loan - expect to keep paying PMI for at least 5 years AND until your LTV is less than 78%.  Refinancing may be the best option for you.

Payment history is very important.  If you have a payment more than 30 days late in the past year, or a payment more than 60 days late in the past two years, the lender is not required to drop PMI. 

If you have a second mortgage or Home Equity Loan that makes the LTV of the first and second mortgage more than 80%, the lender is not required to drop the PMI. 

To Recap: 
1) Determine the estimated value of your home, and make sure it's enough to qualify.  
2) Contact the lender to whom you send your payments each month.  Ask the lender to order an appraisal to determine market value.  Keep all notes in writing.  
3) You need to keep an eye on your equity to determine when you can get rid of PMI, you are the person that cares the most about eliminating PMI.  
4) Consider applying the extra money you've saved towards the mortgage to pay the loan down faster.
5) Consider refinancing, or re-structuring your loan so you will not have PMI.




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Closing Costs When Buying or Refinancing a Home for A Louisville Ky Home Mortgage




Non-Recurring Closing Costs Associated with the Lender. 


Loan Origination Fee - The loan origination fee is often referred to as "points." One point is equal to one percent of the mortgage loan. As a rule, if you are willing to pay more in points, you will get a lower interest rate. On a VA or FHA loan, the loan origination fee is one point. Anything in addition to one point is called "discount points."

Loan Discount - On a government loan, the loan origination fee is normally listed as one point or one percent of the loan. Any points in addition to the loan origination fee are called "discount points." On a conventional loan, discount points are usually lumped in with the loan origination fee. 

Appraisal Fee - Since your property serves as collateral for the mortgage, lenders want to be reasonably certain of the value and they require an appraisal. The appraisal looks to determine if the price you are paying for the home is justified by recent sales of comparable properties. The appraisal fee varies, depending on the value of the home and the difficulty involved in justifying value. Unique and more expensive homes usually have a higher appraisal fee. Appraisal fees on VA loans are higher than on conventional loans. 

Credit Report - As part of the underwriting review, your mortgage lender will want to review your credit history. The credit report can be as little as seven dollars, but normally runs between $21 and $60, depending upon the type of credit report required by your lender. 

Lender's Inspection Fee - You normally find this on new construction and is associated with what is called a 442 inspection. Since the property is not finished when the initial appraisal is completed, the 442 inspection verifies that construction is complete with carpeting and flooring installed. 

Mortgage Broker Fee - About seventy percent of loans are originated through mortgage brokers and they will sometimes list your points in this area instead of under Loan Origination Fee. They may also add in any broker processing fees in this area. The purpose is so that you clearly understand how much is being charged by the wholesale lender and how much is charged by the broker. Wholesale lenders offer lower costs/rates to mortgage brokers than you can obtain directly, so you are not paying "extra" by going through a mortgage broker. 

Tax Service Fee - During the life of your loan you will be making property tax payments, either on your own or through your impound account with the lender. Since property tax liens can sometimes take precedence over a first mortgage, it is in your lender's interest to pay an independent service to monitor property tax payments. This fee usually runs between $70 and $80. 

Flood Certification Fee - Your lender must determine whether or not your property is located in a federally designated flood zone. This is a fee usually charged by an independent service to make that determination. 

Flood Monitoring - From time to time flood zones are re-mapped. Some lenders charge this fee to maintain monitoring on whether this re-mapping affects your property.

Other Lender Fees 

We put these in a separate category because they vary so much from lender to lender and cannot be associated directly with a cost of the loan. These fees generate income for the lenders and are used to offset the fixed costs of loan origination. The Processing Fee above can also be considered to be in this category, but since it is listed higher on the Good Faith Estimate Form we did not also include it here. You will normally find some combination of these fees on your Good Faith Estimate and the total usually varies between $400 and $700. 

Document Preparation - Before computers made it fairly easy for lenders to draw their own loan documents, they used to hire specialized document preparation firms for this function. This was the fee charged by those companies. Nowadays, lenders draw their own documents. This fee is charged on almost all loans and is usually in the neighborhood of $200. 

Underwriting Fee - Once again, it is difficult to determine the exact cost of underwriting a loan since the underwriter is usually a paid staff member. This fee is usually in the neighborhood of $300 to $350. 

Administration Fee - If an Administration Fee is charged, you will probably find there is no Underwriting Fee. This is not always the case. 

Appraisal Review Fee - Even though you will probably not see this fee on your Good Faith Estimate, it is charged occasionally. Some lenders routinely review appraisals as a quality control procedure, especially on higher valued properties. The fee can vary from $75 to $150. 

Warehousing Fee - This is rarely charged and begins to border on the ridiculous. However, some lenders have a warehouse line of credit and add this as a charge to the borrower. 

Items Required to be Paid in Advance 

Pre-paid Interest - Mortgage loans are usually due on the first of each month. Since loans can close on any day, a certain amount of interest must be paid at closing to get the interest paid up to the first. For example, if you close on the twentieth, you will pay ten days of pre-paid interest. 

Homeowner's Insurance - This is the insurance you pay to cover possible damages to your home and other items. If you buy a home, you will normally pay the first year's insurance when you close the transaction. If you are buying a condominium, your Homeowners' Association Fees normally cover this insurance. 

VA Funding Fee - On VA loans, the Veterans Administration charges a fee for guaranteeing your loan. If you have not used your VA eligibility in the past, this is two percent of the loan balance. If you have used your VA eligibility before, it is three percent of the loan. If you are refinancing from a VA loan to a VA loan, it is three-quarters of a percent of the loan amount. Instead of actually paying this as an out-of-pocket expense, most veterans choose to finance it, so it gets added to the loan balance. This is why the loan balance on VA loans can be higher than the actual purchase amount. 

Up Front Mortgage Insurance Premium (UFMIP) - This is charged on FHA purchases of single family residences (SFR's) or Planned Unit Developments (PUDs) and is 1.75% of the loan balance. Like the VA Funding Fee it is normally added to the balance of the loan. Unlike a VA loan, the home buyer must also pay a monthly mortgage insurance fee, too. This is why many lenders do not recommend FHA loans if the home-buyer can qualify for a conventional loan. However, condominium purchases do not require the UFMIP. 

Mortgage Insurance - Though it is rare nowadays, some first-time homebuyer programs still require the first year mortgage insurance premium to be paid in advance. Most mortgage insurance (when required) is simply paid monthly along with your mortgage payment. Mortgage insurance covers the lender and covers a portion of the losses in those cases where borrowers default on their loans. 


USDA Funding Fee- On USDA loans, the USDA charges a fee of 1% on purchases, and on refinances for USDA home loans in Kentucky. This fee is put on top of whatever you finance or you can pay out of pocket instead of financing in over the loan term.

Reserves Deposited with Lender 


If you make a minimum down payment, you may be required to deposit funds into an impound account. Funds in this account are your funds, and the lender uses them to make the payments on your Homeowner's insurance, property taxes, and mortgage insurance (whichever is applicable). Each month, in addition to your mortgage payment, you provide additional funds which are deposited into your impound account. 

The lender's goal is to always have sufficient funds to pay your bills as they come due. Sometimes impound accounts are not required, but borrowers request one voluntarily. A few lenders even offer to reduce your loan origination fee if you obtain an impound account. However, if you are disciplined about paying your bills and an impound account is not required, you can probably earn a better rate of return by putting the funds into a savings account. Impound accounts are sometimes referred to as escrow accounts. 

Homeowners Insurance Impounds - your lender will divide your annual premium by twelve to come up with an estimated monthly amount for you to pay into your impound account. Since a lender is allowed to keep two months of reserves in your account, you will have to deposit two months into the impound account to start it up. 

Property Tax Impounds - How much you will have to deposit towards taxes to start up your impound account varies according to when you close your real estate transaction. For example, you may close in November and property taxes are due in December. Your deposit would be higher than for someone closing in May. 

Mortgage Insurance Impounds - When required, most lenders allow this to simply be paid monthly. However, you may be required to put two months worth of mortgage insurance as an initial deposit into your impound account. 

Non-Recurring Closing Costs not associated with the Lender 

Closing/Escrow/Settlement Fee - Methods of closing a real estate transaction vary from state to state, as do the fees. For purchases, a general rule of thumb that usually works in calculating this closing cost is $200 plus $2 for every thousand dollars in price. For refinances there is usually a flat fee around $400 to $500. 

Title Insurance - Title Insurance assures the homeowner that they have clear title to the property. The lender also requires it to insure that their new mortgage loan will be in first position. The costs vary depending on whether you are purchasing a home or refinancing a home, so we will not provide a range here. 

Notary Fees - Most sets of loan documents have two or three forms that must be notarized. Usually your settlement or escrow agent will arrange for you to sign these forms at their office and charge a notary fee in the neighborhood of $40. 

Recording Fees - Certain documents get recorded with your local county recorder. Fees vary regionally, but probably run between $40 and $75. 

Pest Inspection - also referred to as a Termite Inspection. This inspection tests not only for pest infestations, but also other items such as wood rot and water damage. The inspection usually runs around $75. If repairs are required, the amount to cover those repairs can vary. The seller will usually pay for the most serious repairs, but this is a negotiable item. Usually (not always) the pest inspection fee is paid by the seller of the home and is not normally reflected on the Good Faith Estimate. 

Home Inspection - Since it is the Home buyer's choice to obtain a home inspection or not, this cost is not usually reflected on a Good Faith Estimate. However, it is recommended. Keep in mind that the home inspector has a certain set of standards he uses when inspecting a home, and those standards may be higher than required by local building codes. An example is that an inspector may note there is no spark arrest-or on a chimney but the local building code may not require it. This sometimes leads to conflicts between buyer and seller. 

Home Warranty - This is also an optional item and not normally included on the Good Faith Estimate. A Home Warranty usually covers such items as the major appliances, should they break down within a specific time. Often this is paid by the seller. 

Refinancing Associated Costs (but not charged by the new Lender) 

Interest - When you close the transaction on your refinance, there will most likely be some outstanding interest due on the old loan. For example, if you close on August twentieth (and you made your last payment), you will have twenty days interest due on the old loan and ten days prepaid interest on the new loan. Your first payment on the new loan would not be until October 1st since you have already paid all of August's interest when you closed the refinance transaction (since interest is paid in arrears, a September payment would have paid August's interest, which has already been paid in closing). 

Reconveyance Fee - this fee is charged by your existing lender when they "reconvey" their collateral interest in your property back to you through recording of a Reconveyance. This fee can vary from $75 to $125. 

Demand Fee - your existing lender may charge a fee for calculating payoff figures. If they do, this fee may run in the neighborhood of $60. 

Sub-Escrow fee - though it sounds like an escrow fee, this fee is actually charged by the Title Company (and I've never been able to figure out exactly what it is for). Assume it is an income-generating fee similar to some of the lender fees mentioned above. Title representatives who want to explain this fee can send us an email. 

Loan Tie-in Fee - though it sounds like a lender fee, this cost is actually charged by the Escrow Company (like the sub-escrow fee, I've never been able to understand this fee, either). Escrow officers who want to explain this fee can also send an email. 

Homeowner's Association Transfer Fee - If you are buying a condominium or a home with a Homeowner's Association, the association often charges a fee to transfer all of their ownership documents to you. 

Asking the Seller to Pay Closing Costs - Rules and Advice. 


It has become common to ask the seller to pay some or all of the closing costs when you purchase a home. Essentially, this is financing your closing costs since you will probably pay a little bit more for the property than you would if you were paying your own costs. 

Keep in mind a few simple rules. On Kentucky Fannie Mae or Conventional loans you can only ask the seller to pay non-recurring costs, not prepaids or items to be paid in advance. If you are putting ten percent down or more, the most the seller can contribute is six percent of the purchase price. If you are putting less down, the most the seller can contribute is three percent. 

On Kentucky VA loans, you can ask the seller to pay everything. This is called a "VA No-No," meaning the buyer is making no down payment and paying no closing costs. The seller can pay up to 4% of your closing costs and prepaids not to exceed 4% of the sales price  for a Kentucky VA Home Loan

On Louisville Kentucky FHA loans, the seller can pay almost any cost, but the buyer has to have a minimum three and 1/2 percent investment in the home/closing costs.  On A Kentucky FHA loan, the seller may pay up to 6% of the sales price toward your closing costs and prepaids

Most refinances include the closing costs and prepaids in the new loan amount, requiring little or no out-of-pocket expenses to close the deal. 

If you didn't get bored as you read through this, now you know everything...a lot, anyway...about closing costs. 



Mortgage Insurance Rates Increasing on FHA Loans

Mortgage Insurance Rates Increasing on Kentucky FHA Loans


Mortgage Insurance Rates Increasing on Kentucky FHA Loans

by MERIDITH DOUCETTE on MARCH 21, 2012

FHA Mortgage Insurance Rates Will Be Going Up on All New Kentucky FHA Loans Assigned April 9, 2012 and After.
Kentucky FHA Loans are loans insured by the Federal Housing Administration (FHA). These insured loans minimize the risk lenders face by allowing buyers a down payment less than 20% of the price of the home. Kentucky FHA Loans offer features that are attractive to many home buyers such as:
  • Low Down Payment – as low as 3.5% of the purchase price of the home
  • Low Closing Costs – closing costs, mortgage insurance and other fees can be included in the loan
  • Easier Credit Qualifications – those who don’t have the credit score or history to qualify for a conventional loan may qualify for FHA financing
Because Kentucky FHA loans allow a down payment of less than 20% of the purchase price of the home, mortgage insurance is required for these loans. Mortgage insurance premiums on Kentucky FHA loans are much less than premiums for private mortgage insurance and most of the premium can be added to the loan. For FHA loans, a portion of the Mortgage Insurance Premium (MIP) known as the Up Front Mortgage Insurance Premium (UFMIP) is added to the loan balance rather than being paid out-of-pocket at closing. Then, the remaining portion of the MIP due is added to the monthly payment.
While FHA mortgage insurance premiums will continue to be lower than premiums for private mortgage insurance, FHA mortgage insurance rates will be going up on all new loans assigned April 9, 2012 and after. The UFMIP rate, which is included in the loan, will change from 1.00% to 1.75% of the loan amount. The MIP rate will change from 1.15% to 1.25% of the loan amount. Here is an example of how these changes will impact a loan for $400,000*:
New FHA Loan
(After April 1, 2012)
Old FHA Loan
(March 31, 2012 or prior)
Purchase Price
$400,000
$400,000
Down Payment %
3.5%
3.5%
Down Payment Amount ($)
$14,000
$14,000
Interest Rate
4.25%
4.25%
Up Front Mortgage Insurance Rate
1.750%
1.000%
Mortgate Insurance Rate
1.250%
1.150%
Tax Rate
1.000%
1.000%
Loan Amount
$392,755
$389,860
Payment 1
$1,932
$1,918
MI Payment
$409
$374
Total Payment
$2,341
$2,291
Taxes Monthly
$333
$333
Insurance Monthly
$100
$100
Other (HOA Dues)
$144
$144
Total Monthly Payment
$2,919
$2,869

In the example above, the monthly payment goes up $50 per month. These changes can be compared as having a net effect of raising the interest rate of the loan by .25%. To buy down the interest rate by .25% to get the payment more in line with the former FHA insurance rates would cost about $8,000 out-of-pocket.
If you are planning to purchase a home using FHA financing, save money by purchasing your new homebefore April 1, 2012 to meet the April 9, 2012 deadline for the change in mortgage insurance premium rates.

*This purchase scenario is used for demonstration purposes only and may not be available at any or all communities.  This information is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.


With the new FHA Streamline Refinance program – and the recent changes in the FHA PMI rates – we’ve had several people ask, “When Can I Cancel and Get Rid of FHA Mortgage Insurance Premium?”
The good news is that unlike the USDA Loan Program (that also saw recent changes to it’s PMI rates) you actually CAN “get rid of FHA PMI!” :)
You have two types of Mortgage Insurance (PMI) with FHA.  The Upfront fee that is charged can be partially rebated if you refinance or sell within 5 year of getting the home.  The “Monthly” charge is what you can stop paying.  This charge is “technically” called FHA MIP (mortgage insurance premium) but since it’s just kinda symantics – we refer to it all as FHA PMI.

FHA differentiates between a 30 year and 15 year fixed loan as to  when you can cancel your FHA PMI :
  • 30 Year Loan Term – must pay the monthly insurance premium for a minimum of 60 months (5 years) and the loan must reach 78% loan-to-value (LTV) as a result of paying the loan down (amortization).  LTV is not determined by the new home value, it’s determined by the original sales price of the home.  LAYMAN’S TERMS:  If your original sales price was $100,000 – multiply that by 78%.  You need to get your mortgage balance down to $78,000 before FHA will allow you to drop the PMI.
  • 15 Year Loan Term – there is NO requirement that MIP be paid for 60 months but the LTV must be 78%.  LTV is based on paying the loan balance down, you calculate this the same way you do for a 30 year mortgage.  Remember, this is NOT based upon the current appraised value or the current tax value of the house.
How Can I Determine When I Will Reach 78% LTV?
There is no set number of months it will take because it varies slightly based on the interest rate and size of the down payment. If you use Excel – you can easily find an amortization program that will tell you when your mortgage will be at the “sweet spot!”  For a 30 year mortgage with 3.5% down, it will take between 9-10 years to get down to 78% LTV.
A 15 year fixed mortgage will pay down to 78% LTV between 2-2.5 years.  Remember, FHA does not require 15 year loans to keep the annual MIP for a minimum of 60 months.
How to Remove or Cancel FHA PMI Quicker
It is possible to eliminate or get rid of the FHA mortgage insurance premium quicker if you make extra payments to the principle, but only after 60 months has passed (assuming you have a 30 year loan).  FHA goes off the scheduled amortization schedule to determine when you will reach 78% LTV up until 60 months.
Refinance -If you you think you have 20% equity in your home but don’t meet the 60 months or 78% LTV based on the original purchase price or appraisal criteria, it may be possible to refinance into a conventional loan.  If you don’t have 20% equity, and have VA loan eligibility, you could refinance into a VA loan.  A VA loan requires no monthly mortgage insurance and we can go up to 100% LTV on a VA refinance.
Can I Cancel FHA PMI if My Home Upside Down in Value?
It might not seem logical – but if you’ve been in your home for 5 years… and you’ve paid it down based upon the ORIGINAL sales price to the 78% mark, you can cancel the FHA PMI you are charged on a monthly basis… even  if you’re home is upside down in value.
How Do I Cancel My FHA PMI?
This is the easy part….FHA automagically drops the monthly FHA PMI based on the amortization schedule.  You don’t have to order an appraisal and technically, you don’t even have to request the removal.  However, if we suggest contacting your servicing bank to make sure they are aware of  your projected date for your PMI removal!


-- 

Joel Lobb
Senior  Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346

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