Yes, it will help you obtain a larger loan, here’s why. Let's say that you are a family with $42,000 Annual Gross Income and monthly revolving debts of $800 for car payment and credit cards, and you have $10,000 for your down payment and closing costs on a 7%-interest mortgage. Without PMI the maximum price you can afford is $44,600, but with PMI covering the lender's risk you now can buy a $62,300 house. PMI has afforded you 39% more house.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 328527
CalDRE Company Lic: 01131611
Pacific First Financial Real Estate Loans, Inc. is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. This material is not from HUD or FHA and has not been approved by HUD or any government agency.
4015 Pacific Coast HWY, Suite 202
Torrance, California 90505
Phone: (310) 214-9299
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