Helping you increase your business by providing ways for borrowers to buy sooner with broader options
Our new borrower-paid mortgage insurance (BPMI) is the original low-down-payment option. It provides borrowers flexibility and purchasing power.
We've updated pricing on 2 popular BPMI plans: Monthly Premiums and non-refundable Single Premiums.
Important: beginning Monday, July 9, Rate Finder will provide:
BPMI Monthly Premiums
BPMI Single Premiums, Non-Refundable
BPMI Monthly Premiums, Charter-Level Coverage
BPMI Monthly Premiums, Home Possible® Coverage
BPMI Monthly Premiums, HomeReady® Coverage
We’re partnering with Down Payment Resource, the only national database of eligibility criteria and benefits information for down payment assistance resources, grants, bond programs, Mortgage Credit Certificates (MCCs), employer assistance and other homeownership programs – updated monthly with the most current information. Learn more about DPR.
Reinforce your role as a Trusted Advisor by offering a slightly different angle to your borrowers who have 20% to put down: Ask them to consider putting 15% down instead.
Their monthly principal and interest payment will go up a bit, and they’ll need to purchase a small amount of MGIC mortgage insurance. BUT they get to hold on to the difference… in their savings… for investing… for making home improvements. Learn more reasons why 15 is greater than 20.
Whether they’re first-timers or have been around the block a few times, the better educated your borrowers are about homeownership, the more likely they are to be successful. This is the place to start. Readynest.com breaks down the homebuying process into bite-size topics, and backs up the facts with true stories that bring it all to life.
Borrowers can study for our Homebuyer Education Test, find calculators and other tools, and read approachable, first-person accounts of the homebuying process. Learn more about Readynest.Home Possible® is a registered service mark of Freddie Mac