Artwork

内容由Real Estate Financial Planner LLC and James Orr and James Orr提供。所有播客内容(包括剧集、图形和播客描述)均由 Real Estate Financial Planner LLC and James Orr and James Orr 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal
Player FM -播客应用
使用Player FM应用程序离线!

What is PMI And How to Avoid It

21:38
 
分享
 

Manage episode 389695386 series 3467023
内容由Real Estate Financial Planner LLC and James Orr and James Orr提供。所有播客内容(包括剧集、图形和播客描述)均由 Real Estate Financial Planner LLC and James Orr and James Orr 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

What is PMI And How to Avoid It

You want to work with a lender so that you don't need to purchase a property with all cash. The lender is willing to lend you money, charging you interest to make a profit, and ensuring there is a safety buffer of equity in case you default and they need to foreclose to recover their funds.

Your goal is to minimize the amount you need to invest in the deal to maximize your return on investment, but the lender requires a minimum down payment of 20% to feel secure in loaning you the money in case you default and they need to foreclose to recover the property and their money.

You insist on putting down less than 20%.

Reluctantly, they agree to let you put less than 20% down, but only if you purchase third-party insurance to protect them in case of default. You agree.

The third-party insurance company is offering private mortgage insurance (PMI), which is insurance you pay to protect the lender in case you default because you put down less than 20%.

In this mini-class, we will look at PMI, what it is, and how you can avoid it as a real estate investor.

Check out the video from this class here:

What is PMI And How to Avoid It - Video

In this class, James discusses:

  • What is Private Mortgage Insurance (PMI) and why does it exist?
  • What is PMI called for FHA loans?
  • How to avoid paying PMI?
  • Putting at least 20% down to avoid paying PMI
  • Paying down on your loan to get rid of PMI
  • Opting to take a higher mortgage interest rate instead of PMI
  • Get a loan that doesn't have PMI at all
  • Utilize the creative financing strategies that don't have PMI
  • Plus much more...

Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

https://RealEstateFinancialPlanner.com/spreadsheet

Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Cedar Rapids real estate investor podcast? Book a free consultation to discuss.

  continue reading

113集单集

Artwork
icon分享
 
Manage episode 389695386 series 3467023
内容由Real Estate Financial Planner LLC and James Orr and James Orr提供。所有播客内容(包括剧集、图形和播客描述)均由 Real Estate Financial Planner LLC and James Orr and James Orr 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal

What is PMI And How to Avoid It

You want to work with a lender so that you don't need to purchase a property with all cash. The lender is willing to lend you money, charging you interest to make a profit, and ensuring there is a safety buffer of equity in case you default and they need to foreclose to recover their funds.

Your goal is to minimize the amount you need to invest in the deal to maximize your return on investment, but the lender requires a minimum down payment of 20% to feel secure in loaning you the money in case you default and they need to foreclose to recover the property and their money.

You insist on putting down less than 20%.

Reluctantly, they agree to let you put less than 20% down, but only if you purchase third-party insurance to protect them in case of default. You agree.

The third-party insurance company is offering private mortgage insurance (PMI), which is insurance you pay to protect the lender in case you default because you put down less than 20%.

In this mini-class, we will look at PMI, what it is, and how you can avoid it as a real estate investor.

Check out the video from this class here:

What is PMI And How to Avoid It - Video

In this class, James discusses:

  • What is Private Mortgage Insurance (PMI) and why does it exist?
  • What is PMI called for FHA loans?
  • How to avoid paying PMI?
  • Putting at least 20% down to avoid paying PMI
  • Paying down on your loan to get rid of PMI
  • Opting to take a higher mortgage interest rate instead of PMI
  • Get a loan that doesn't have PMI at all
  • Utilize the creative financing strategies that don't have PMI
  • Plus much more...

Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

https://RealEstateFinancialPlanner.com/spreadsheet

Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Cedar Rapids real estate investor podcast? Book a free consultation to discuss.

  continue reading

113集单集

Alle afleveringen

×
 
Loading …

欢迎使用Player FM

Player FM正在网上搜索高质量的播客,以便您现在享受。它是最好的播客应用程序,适用于安卓、iPhone和网络。注册以跨设备同步订阅。

 

快速参考指南