May 13, 2008
 Des Moines Current Rates Rate APR  
  30 Year Conforming 5.875% 5.9380%
Assumptions 30 Year FHA 6.000% 6.5886%
 
 
 Our Products


We have a wide array of products and a fleet of experts to design home financing solutions to meet your specific needs. Click on the product below to learn more.

Due to various federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.

Reverse Mortgage
 
 

 The 3% Solution Loan
Need greater purchasing power?
Strapped for down payment cash?

The 3% Solution offers:
  • Increased Home Affordability
By putting only 3% down, you can obtain a larger mortgage. A larger mortgage could translate into a better or bigger home!
  • 3% Down Payment
A low 3% down payment is often associated with "affordable" low-to-moderate income programs. But the 3% Solution loan program doesn't have any income restrictions or first-time homebuyer requirements.
  • Flexible Qualifying Guidelines
Down payment funds can come from personal savings and gifts, as well as loans from sources such as a relative, employer or non-profit organization.

 Adjustable-Rate Mortgages
Need extra borrowing power?
Plan to move or refinance in a few years?

Adjustable-Rate Mortgages:
  • Assist borrowers in obtaining a larger loan amount
This is possible because qualifications are at the lower interest rate.
  • Save money in the early years
Lower initial interest rate than a traditional fixed-rate loan.
  • Have a variety of adjustment periods
(See Intermediate ARMS)
Best for people who:
  • Need extra borrowing power.
  • Want to save money in the first few years.
  • Plan to move or refinance in a few years.
  • Are purchasing or refinancing at a time when interest rates are comparatively high.
Adjustable-Rate Mortgages (also called ARMs) feature an interest rate that periodically adjusts with changing market rates. ARMs are available in government, conforming and jumbo loan amounts. The ARM allows you to take advantage of lower interest rates in a falling rate environment, and you'll benefit from lower monthly payments. The initial interest rate on an ARM is usually lower than the lifetime interest rate on a fixed-rate mortgage (FRM). ARM interest rates and the degree to which they fluctuate at the end of every adjustment period, are determined by:
Index: Published economic indices such as U.S. Treasury Securities or London Inter-Bank Offered Rate (LIBOR) that are used to direct the adjustment.
Margin: A fixed percentage (usually two to three percent) that is added to the index at each adjustment period.
Rate Cap: Typically the maximum amount your rate can increase or decrease per adjustment period (2%) and over the life of the loan (6%). This protects you in case of volatile market swings.
*Due to Federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.
** For adjustable-rate transactions, rates are subject to increase over the life of the loan.

 Balloon Mortgage
Plan on being in your home for less than 7 years?
Need more purchasing power?

Balloon Mortgages offer:
  • Larger Loan Amount
Because the initial interest rate is typically lower than with traditional fixed-rate mortgages, a homebuyer has more purchasing power.
  • Predictable Monthly Payments
Payments are protected from rate increases for seven years.
  • Special Refinancing Option
MidAmerican Home Mortgage can refinance the loan for a processing fee of only $250, if specified terms and conditions are met.*
Best for people who:
  • Plan to sell or refinance their homes before the loan expires.
  • Expect to come into money by the time the balloon is due.
  • Relocate periodically
The Balloon Mortgage has a fixed rate for seven years, followed by a "balloon" payment requiring repayment of the entire loan balance. Monthly payments are low because the interest rate is generally lower than a fixed-rate mortgage (FRM) and payments are amoritized over 30 years. People may choose this type of loan because they plan on either selling their homes, paying them off, or refinancing them before the balloon payment is due.
*This fee is subject to change- an additional fee for Mortgage Insurance and Title Insurance policies may be required.
** Due to Federal, state, and local requirements, certain products may not be available in all areas. Other restrictions may apply.

 Blended Jumbo
Interested in qualifying for a larger loan?
Thinking about a jumbo loan but want to avoid jumbo interest rates?

Blended Jumbo offers:
  • Lower Monthly Payments
Lower monthly payments than regular jumbo mortgages and fixed-rate mortgages.
  • Lower Interest Rates
Interest rates are usually lower than regular jumbo mortgages and fixed-rate mortgages.
  • Flexibility
Second mortgage can be paid off at a later date or prepaid (lowering monthly payments even more) with no penalty.
Best for people who:
  • Want to lower their interest rate on a jumbo mortgage.
  • Want to qualify for a larger home.
The Blended Jumbo loan offers lower monthly payments and buydown options that can help you qualify for a larger loan. MidAmerican Home Services Mortgage makes one fixed-rate loan in an amount up to the conforming loan limit,* plus an adjustable-rate second mortgage on the home you wish to buy. The resulting "blended" payment is often less than the payment you would make on a similar jumbo mortgage, so you can enjoy enhanced home purchasing power. Also, a Blended Jumbo loan makes it easier for you to manage your long-term costs. You can direct extra principal payments toward the second mortgage without affecting the first mortgage. So you can pay off the second mortgage and lower your monthly payment at your convenience.
*Currently $322,700 or less for a single-family home, except in Hawaii and Alaska, where the limit is $484,050 for a single-family home. These amounts may adjust annually.

 Bond Programs
Need assistance with a down payment?
Need help qualifying for the home you desire?

Bond programs offer:
  • Discounts
Possibly receive a lower rate.
  • Down Payment Assistance
Funding to help overcome the obstacles faced by low-to-moderate income borrowers.
  • Easier Qualifying Terms
Fexible credit guidelines may make it easier for you to qualify to buy a home.
Best for people who:
  • Are first-time homebuyers having trouble saving for the out-of-pocket expenses associated with purchasing a home.
  • Borrowers who qualify- programs vary by location.
Ask about bond programs to see if you qualify for a program in our area.

 Bridge Loans
Purchasing a new home but haven't sold the old one?
Relocating and need time to sell your current home?

Bridge loans offer:
  • Convenience
You don't have to wait until your current house is sold to obtain financing for your new home.
  • More Home
The mortgage payments on the listed property are not used to qualify you for your new loan.
  • More Time
Take up to six months to sell your existing property. Interest is due at the end of the term.
Best for people who:
  • Are borrowers with high debt ratios due to two different mortgage payments.
  • Are relocating who haven't had time to sell their current home.
The Bridge Loan is the perfect answer for those borrowers who want to close on a new home but haven't sold or closed on their current home. With the bridge loan, your current mortgage won't keep you from buying a new home. Don't delay, you can buy that new home sooner than you thought!

 Builder Best®
Thinking about new construction but worried about rising interest rates?

Builder Best® Program offers:
  • Free 6-Month Lock
Your loan pricing can be locked for up to 360 days, giving you protection against financial market fluctuations. A nominal fee applies for locks longer than six months.
  • Financing Options
Choose from a variety of MidAmerican Home Services Mortgage loan products, including 3/1, 5/1, 7/1 and 10/1 intermediate ARMs.
  • Flexibility
Within 60 days of closing, eligible borrowers have the option to switch to any eligible MidAmerican Home Services Mortgage product at the current market interest rate.*
Best for people who:
  • Want to protect themselves against rising interest rates while their homes are under construction.
MidAmerican Home Services Mortgage's Builder Best® Program protects homebuyers from financial market fluctuations in interest rates while their new homes are under construction for up to 360 days. And if the market improves during construction, homebuyers can exercise a one-time float-down option at no additional cost to obtain a new pricing on their loan.** Or they can make a one-time switch to any eligible MidAmerican Home Services Mortgage product and get the current rate, at no additional cost.
* Product switch option may only be exercised within 60 days of closing.
** Change of loan product or program, float-down, or re-lock of rate will require underwriting approval. One-time float-down option is available within 60 days of closing to any non-Builder Best® Program.; re-lock is not allowed within 30 days of the original lock. If re-lock period exceeds 60 days, applicable extended lock fees will be assessed.
Due to various federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.

 Closing Cost$aver® Program
Need extra cash to cover your closing costs?
Like to put more money toward your down payment?

The Closing Cost$aver Program offers:
  • More Money Toward Your Down Payment
  • Savings
Reduce or eliminate out-of-pocket closing costs.
  • Flexibility
The Closing Cost$aver program is available for use with Fixed-rate, ARM and Balloon products in conjunction with Government, Conventional and Jumbo loan amounts.
Best for people who:
  • First-time homebuyers with little savings.
  • Move-up buyers with little equity.
  • Borrowers with high debt ratios.
Most potential borrowers cite the lack of equity or sufficient down payment funds and cash to close as the major obstacles for purchasing or refinancing a home. The MidAmerican Home Services Mortgage Closing Cost$aver Program removes these barriers by reducing or possibly eliminating closing costs.

 Construction/Perm AdvantageSM
Building a new home?
But worried about the complicated financing of two separate loans?

Construction/Perm AdvantageSM Loan offers:
  • Simplicity
One application, one approval process and one set of closing costs.
  • Convenience
You can buy the land, close your construction loan and secure permanent financing all in one day! And when the construction is complete, you have an option to increase or decrease your loan amount, and even change to a different loan type.*
  • Lock Options
You can lock pricing during new home construction for up to one year, protecting you from financial market fluctuations** You also have the opportunity to secure a lower rate if rates decline.**
  • Flexibility
Available in fixed-rate, adjustable-rate, balloon, and jumbo mortgage options.
Best for people who:
  • Are building homes from scratch and need construction financing.
  • Builders who want to sell more homes by offering their homebuyers time and money savings.
  • First-time homebuyers or purchasers looking to buy new construction that would like to save time and money.
MidAmerican Home Services Mortgage's Construction/Perm AdvantageSM Loan offers customers who are building homes the flexibility of a double-close loan with the ease and benefits of a single close loan. Construction financing commonly involves two loans: one interim construction loan for the building of the home and one permanent loan for the completed home. The Construction/Perm AdvantageSM Loan, however, streamlines the morgage process to save borrowers both time and money.
* Change of loan product may require underwriting approval.
** Locking does not guarantee what specific rate will apply at closing, as that depends on specific loan characteristics and the borrower's credit profile.
*** Change of loan product, float-down or re-lock requires underwriting approval. One-time float-down option is available for any non-Builder Best® Program; re-lock is not allowed within 30 days of the original lock and must occur immediately after existing lock cancellation. If re-lock period exceeds 60 days, applicable extended lock fees will be assessed. Credit is subject to approval.

 Easy-to-OwnSM Down Payment Assistance Programs
Need assistance with a down payment?
Want money to help cover closing costs?

The Easy-to-OwnSM Down Payment Assistance Program offers:
  • Down Payment Assistance
Potentially receive a second loan for as much as $2,000 to help overcome the obstacles faced by low-to-moderate income borrowers.
  • More Time
The second loan is forgiven until sufficient funds exist from a cash-out refinance, sale of home, foreclosure or full repayment of the first mortgage.
  • Flexibility
These funds can be used with FHA, VA Mortgages and Easy-to-OwnSM 5% Down with 3/2 option program.
Best for people who:
  • Are first-time homebuyers having trouble saving for the out-of-pocket expenses associated with purchasing a home.
  • Are borrowers who have 60% of the Homeownership Assistance Program area median income guidelines based on family size.*
  • Move-up buyers with little equity.
* Family size is defined as the total number of people in the household and any other dependents outside the household who will be claimed as an exemption on at least one of the occupying borrower's tax returns.
** Due to Federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.

 Easy-to-OwnSM 5% Down with 3/2 Option
Need assistance with down payment and closing costs?
Need help qualifying for the home you desire?

The Easy-to-OwnSM with 5% Down Program offers:
  • A Low Down Payment
As low as 5% with 3/2 Option. If exercised, the 3/2 Option requires 3% down payment from borrower's own funds. The remaining 2% can be in the form of a gift, grant or approved Down Payment Assistance Program.
  • Down Payment Assistance Programs
Funding to help overcome the obstacles faced by low-to-moderate income borrowers.
  • Easy Qualifying Terms
Flexible credit guidelines may make it easier for you to qualify to buy a home.
Best for people who:
  • Are first-time homebuyers having trouble saving for the out-of-pocket expenses associated with purchasing a home.
  • Are borrowers who fall within the HUD median income limits (high cost area exceptions apply).
  • Move-up buyers with little equity.

 Easy-to-OwnSM 3% Down Program
Need assistance with down payment and closing costs?
Need help qualifying for the home you desire?

The Easy-to-OwnSM 3% Down Program offers:
  • A Low Down Payment of Only 3%.
  • Down Payment Assistance Programs
Funding to help overcome the obstacles faced by low-to-moderate income borrowers.
  • Easy Qualifying Terms
Flexible credit guidelines may make it easier for you to qualify to buy a home.
Best for people who:
  • Are first-time homebuyers having trouble saving for the out-of-pocket expenses associated with purchasing a home.
  • Are borrowers who fall within the HUD median income limits (high cost area exceptions apply).
  • Move-up buyers with little equity.

 Expanded Financing Solutions™
Require Limited Documentation or No Ratio programs?
Are you a citizen of another country looking to purchase property in the United States?

The Expanded Financing SolutionsSM program offers:
  • Alternate Income, Debt and Credit Documentation Options
Choose from our Limited Doc or No Ratios programs.
  • Financing for Foreign Nationals
Loan amounts up to $650,000 available to purchase a primary or second/vacation residence.
  • Condotel Financing
For primary, second/vacation or investment properties with loan amounts as high as $650,000.
Best for people who:
  • Need financing options for unusual property types such as, condotels, log, earth or dome homes.
  • Are self-employed with good credit buy avoid purchasing or refinancing a home due to excessive documentation requirements.
The Expanded Financing SolutionsSM program provides expanded financing opportunities with a fixed-rate mortgage option in conforming loan amounts. MidAmerican Home Services Mortgage consultants will explore your financing options and suggest a customized loan program to help you buy a home now.

 FHA Mortgage
Worried about not qualifying for a mortgage loan?
Concerned about not having enough of a down payment for a new home?

FHA Mortgages offer:
  • Low Down Payments
Minimal cash is needed up front.
  • Easy Qualifying Terms
The MidAmerican Home Services Mortgage FHA Home Loan uses relaxed underwriting criteria to evaluate debt and income. These flexible credit guidelines may enable more applicants to qualify for financing.
  • Authorization To Get Help With Costs
FHA guidelines allow homebuyers to receive some or all of their down payment and loan fees from relatives.
Best for people who:
  • Are homebuyers who have limited savings and/or moderate incomes.
  • First-time homebuyers who are concerned about not having enough funds for down payment and closing costs on a new home.
FHA Mortgages help low-to-moderate income homebuyers purchase homes with low down payments (approximately 3%) and flexible qualifying guidelines. These loans are insured by the Federal Housing Administration (FHA), which sets loan limits that vary by area. With a FHA mortgage, you can use a gift or unsecured loan for down payment and closing costs. FHA mortgages are available in a fixed-rate and adjustable-rate mortgage options. Also, these loans are usually assumable (along with the current interest rate) by the next owner when you sell your home. This is seen as a strong benefit in certain rate environments.

 FHA Streamline Refinance
Interested in refinancing your FHA loan with minimal documentation?
Wouldn't you like to reduce the monthly payments on your FHA loan?

FHA Streamline Refinance offers:
  • Faster Processing
  • Lower Monthly Payments
  • Reduced Documentation
  • Reduced Interest Costs Over Mortgage Term
  • Lower Closing Costs
Best for people who:
  • Current FHA mortgage holders who want to lower their monthly payments and reduce overall mortgage costs.
The FHA Streamline Refinance means that new and existing customers with current FHA loans may be able to take advantage of lower rates and reduce monthly payments. This can be done quickly and easily due to radically reduced documentation requirements. This loan requires no income or asset verification, no credit report and no appraisal (except in certain restricted markets). The FHA Streamline Refinance loan is available in fixed-rate and adjustable-rate mortgage options.

 80/10/10, 80/15/5, 75/20/5
Wnat to avoid the added cost of Mortgage Insurance?
Interested in sidestepping higher jumbo interest rates?

Combining a first mortgage plus a home equity loan offers:
  • Cost Effective Down Payment Strategy
Bypass the added expense of mortgage insurance while making a down payment as low as 5%.
  • Lower Interest Rate
Purchase a larger home with a smaller first mortgage, avoiding the higher interest rate of a jumbo loan.
  • Build Equity Faster
The home equity loan has a shorter term allowing you to pay it off quicker.
  • Simplicity
One application, one closing, one set of closing costs equals a two-in-one process saving time and reducing fees.
Best for people who:
  • First-time homebuyers trying to save for a large down payment.
  • Move-up buyers with high-yielding investments who would rather use a home equity loan as a down payment instead of liquidating their assets.
  • People delaying the purchase of a home because they are expecting to use a bonus, commission check or inheritance funds toward the down payment.
MidAmerican Home Services Mortgage is all about choices on combining your mortgage and home equity loan.
First Mortgage
Home Equity Loan
Down Payment
80%
10%
10%
80%
15%
5%
75%
2%
5%

These combinations are the most popular; hower, the first mortgage and home equity product can be used with various combinations in conjunction with a wide array of ARM, Fixed-Rate and Balloon loans. Our experienced MidAmerican Home Services Mortgage consultants will assess your needs and help you choose a loan program that answers your individual needs.

 Fixed-Rate Mortgage
Do you prefer regular mortgage payments with no suprises?
Plan on staying in your home for a long time?

Fixed-Rate Mortgages offer:
  • Predictable Payments
There are fixed monthly payments for the life of the loan.
  • Protection From Rising Interest Rates
For the life of the loan- no matter how high market interest rates go up- your rate remains the same.
  • Faster Equity Growth
In comparison to other mortgage options such as ARMs and Balloon Mortgages.
Best for people who:
  • Prefer regular payments with no suprises.
  • Are on limited or fixed incomes.
  • Plan to stay in their homes for a long time.
  • Are purchasing or refinancing at a time when interest rates are comparatively low.
Fixed-rate mortgages (also known as FRMs) offer the same interest rate, monthly principal and interest payment throughout the entire term of the loan. MidAmerican Home Services Mortgage offers a variety of terms in both government conforming and jumbo loan amounts. The longer the term, the lower the monthly payments and the more cash you'll have for other expenses. With a shorter term, you'll have higher monthly payments and you'll qualify for a smaller loan amount, but you'll save on interest costs over the life of the loan and build your equity faster. The fixed-rate mortgage loan is the "traditional" choice and is still the most popular because it offers stability and predictable payments.

 FLEX/FIXED® Mortgage
Do you need more purchasing power?
Looking to ease into higher monthly payments?

FLEX/FIXED Mortgages offer:
  • Low Start Rates
FLEX/FIXED is a unique program that "buys down" the start rate of the loan, as low as 3% below the established fixed rate.
  • Flexibility
More than 1,700 buy-down options at costs less than most other lenders. Options can be used with many MidAmerican Home Services Mortgage products including FHA/VA and most conventional ARM, balloon and fixed-rate loans.
  • Peace of Mind
Limits rate adjustments to no more than 1% each year and 3% over the life of the loan. This allows homebuyers to plan ahead and grow into the slight increases in payments over the first few years of the loan.
Best for people who:
  • Are first-time homebuyers.
  • Are homebuyers trading up that want to ease into higher monthly payments.
  • Anticipate increases in future income.
  • Prefer to know exactly how much their monthly payments will be.
  • Are sellers or builders who need a tool to move properties (making it easier for potential buyers to qualify) without reducing prices.
With a FLEX/FIXED mortgage, a homebuyer can benefit from the low start rates associated with Adjustable Rate Mortgage (ARM), and the predictable monthly payments of a Fixed-Rate Mortgage (FRM). The borrower using their own funds or seller contributions "buys down" the interest rate of the loan, reducing the initial interest rate as much as three percent below the established fixed rate. This allows first-time homebuyers and borrowers with high debt-to-income ratios, to start at a low, affordable interest rate.
 
 Flexible Credit Solutions
Have you been turned down for a mortgage?
Do you have special financing needs?

MidAmerican Home Services Mortgage offers:
  • Flexible Qualifying Guidelines
Choose from a variety of mortgage options, including fixed and adjustable-rate (ARM) loans.
  • Value
Our loan programs are backed with the reliability and reputation of MidAmerican Home Services Mortgage.
  • Another Chance
Help heal damaged credit by making timely monthly mortgage payments. Check your progress with a free personal home financing analysis anytime.
Best for people who:
  • Have their own business (or are self-employed).
  • Excessive debt obligations.
  • No credit history.
  • Financial hardship.
  • "Less-than-perfect" credit.
 
 Interest-Only Feature
Rather invest your money in high-yield and tax-deferred savings?
Need extra cash to pay off high-interest, non-tax-deductable consumer debt?

The Interest-Only feature offers:
  • Reduced Monthly Payments
With our Interest-Only feature, your monthly payment consists of interest alone for the first five or seven years. This increases your cash flow- making ownership more affordable.
  • Financial Diversity
Redirect your cash flow to supplement your savings or investment funds, maximize your contributions to 401k or other tax-deferred retirement accounts, or pay off any higher-cost, non-tax-deductable debt. It's your money to use as you see fit.
  • Greater Tax Deductions
Because payments are interest-only, you may benefit from larger interest deductions during the interest only period*.
  • Flexibility
You are welcome to make principal payments during the "interest only" period, but are not required to do so.
Best for people who:
  • Are very focused on money management.
  • Want to reduce their monthly mortgage payment.
  • Do not intend to be in their homes more than a few years.
With our 5/1 and 7/1 Interest-Only Adjustable Rate Mortgages** (ARMs), your monthly payment consists of interest alone, with no principal, for the first five or seven years. Lower payments mean increased cash flow each month. So you can enjoy the benefits of homeowership today, while still funding your plans for tomorrow.

The Interest-Only feature is available with the MidAmerican Home Services Mortgage Relationship 5/1 ARM product, which offers a special discounted rate exclusively for new or existing MidAmerican Home Services Mortgage customers. In fact, the stronger your relationship with MidAmerican Home Services Mortgage, the deeper the discounts. What better way to start investing your extra cash than with a MidAmerican Home Services Mortgage savings or investment account- while lowering your interest rate at the same time?
* Consult your tax advisor regarding the deductability of interest.
** Fixed rate for the the first five or seven years, then becomes a one-year ARM.
     
 Intermediate ARMs
Plan on being in your home 10 years or less?
Need a lower rate to qualify for the house you desire?

Intermediate ARMs offer:
  • Low Introductory Rate
Net substantial savings with attractively priced 3/1, 5/1 ,7/1, and 10/1 ARM options.
  • Predictable Monthly Payments
Intermediate ARM options are offered at a low introductory rate that remains fixed for the first three, five, seven or ten years.
  • Low Down Payment
Less up-front cash is needed, because MidAmerican Home Services Mortgage 3/1, 5/1, 7/1, and 10/1 ARM options have down payment requirements as low as 5%.
Best for people who:
  • Plan to stay in their homes for a limited time.
  • Need lower initial payments to buy a home they might not otherwise be able to afford.
  • Are confident their future incomes will rise enought to handle potentially higher mortgage payments.
Intermediate ARMs offer the low introductory rate of an adjustable rate mortgage combined with the security of a fixed-rate mortgage for a defined number of years. As a leading residential mortgage lender, we offer several intermediate ARMs with down payment options as low as 5% and competitive rates that could help borrowers save thousands of dollars over the life of the loan. Also, the intermediate ARM is available in both conforming and non-conforming loan amounts.
* Due to Federal, state and local requirements, certain products may not be available in all areas. Other restrictions may apply.
** For adjustable-rate transactions, rates are subject to increase over the life of the loan.
     
 Jumbo Mortgage
Do you need to borrow more than $417,000?
Interested in leveraging your assets more effectively?

Jumbo Mortgages offer:
  • Larger Loan Amounts to Purchase More Expensive Homes
  • Loan Amounts As High As $1 Million and Down Payments As Low As 5%.
Jumbo Mortgages facilitate high-end purchases of:
  • Primary residences.
  • Second or vacation homes.
  • Investment properties.
Best for people who:
  • Want to finance larger and/or more expensive properties and can handle larger monthly payments.
  • Investment-minded buyers who want to leverage their assets more effectively.
Currently a jumbo mortgage is a purchase or refinance loan that exceeds $417,000 for a single-family home.* It is also called a non-conforming loan because it does not conform to the loan limits set by Fannie Mae (The Federal National Mortgage Association or FNMA) or Freddie Mac (The Federal Home Loan Mortgage Corp. or FHMLC). MidAmerican Home Services Mortgage jumbo financing options include fixed-rate and adjustable-rate mortgages, with a range of terms to accommodate immediate and long-range financial plans.
* Except in Hawaii and Alaska, where the limit is $484,050 for a single-family home.
         
 Lender Paid Mortgage Insurance (LPMI)
Interested in avoiding mortgage insurance, even if your down payment is less than 20%?
Curious about how you can reduce your monthly payments?

Lender Paid Mortgage Insurance offers:
  • Lower Monthly Payment
It's cheaper each month than traditional mortgage insurance.
  • Larger Tax Deduction*
Gives borrowers a bigger tax-deduction* because of the slightly higher interest rate (more savings).
Best for people who:
  • Have a down payment or equity of less than 15%.
  • Have a 20-, 25- or 30-year term mortgage.
  • Will most likely move or refinance in 10 years or less.
  • Want to reduce their monthly payments.
  • Want the largest tax deduction possible*.
Mortgage insurance is necessary if you put down less than 20% on a home. With Lender Paid Mortgage Insurance (LPMI), the cost of the mortgage insurance is included in the interest rate. Although the interest rate is slightly higher with LPMI, this option usually results in a lower monthly payment and a larger tax deduction*. This adds up to considerable savings when compared to other mortgage insurance options.
* Only a tax professional can offer advice on the extent to which interest on a loan with LPMI is deductable.