Conventional MI
Mortgage insurance can get complicated. We don't normally rely on showing you how the math works, but this seems like the best way to describe it. This can have a big effect on what you decide to do with your loan, so the math feels worth it to us.
To be clear, nothing in this video is a commitment to lend or any kind of assurance of what you would pay specifically on a loan transaction. This is only meant to be an example from some currently mostly accurate numbers that can illustrate how this works in the long term.
*About that 78% Rule - on purchases that 78% is a percentage of the original loan amount, not the value of the home. On refinances that 78% is a percentage of the home's value as determined at the time of the refinance. We wanted to include this extra information because it can be a little confusing.
This video is meant as an educational resource to prepare borrowers for the loan process.
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Equity Resources, Inc. was founded in 1993 and proudly offers FHA, VA, Conventional and USDA Rural Development Home Loans in AL, CT, DC, DE, FL, GA, IN, KY, MA, MD, ME, MI, NC, NH, OH, PA, RI, SC, TX, VA & WV. For more information, visit www.CallEquity.com. Corporate Office: 25 S Park Place, Newark, OH 43055. 800-270-7082. NMLS 1579. Equal Opportunity Lender.
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