Monthly cost comparison
PMI at 3% down — when does it go away?
PMI cancels automatically when your loan balance reaches 78% of the original purchase price. You can request cancellation at 80% LTV. Assumes no extra principal payments.
What if you invested the difference instead?
Putting 3% down instead of 20% keeps more cash in your pocket. Here's what that cash could do over time — vs. what you save on your monthly payment.
The advisor take
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This communication is for informational and educational purposes only and does not constitute an offer to lend or a commitment to make a loan. All loans are subject to credit approval, underwriting guidelines, and property approval. Interest rates, payment examples, programs, and terms are illustrative, vary by borrower qualification, and are subject to change without notice. Not all applicants will qualify. Examples shown do not reflect all costs of a mortgage transaction. PMI rates and investment returns shown are illustrative estimates and are not guaranteed. Consult a licensed tax or legal advisor regarding your individual situation. HomeWealth Solutions LLC is licensed by the Florida Office of Financial Regulation, Mortgage Broker License #MBR8082. Verify our licensure at
www.nmlsconsumeraccess.org. Equal Housing Opportunity.