by Athena Paquette | Nov 19, 2016 | Blog, Home Owners, Investors, Realtors
I want to put 10% down on a new home but don’t want to pay PMI. Is there a way to do that? Yes indeed there is! There are 2 ways and half way. The first way is to get 2 loans = 1 loan that is 8% of the price of the home and the other 10%; because the first mortgage is...
by Athena Paquette | Aug 6, 2016 | Blog, Home Owners, Investors, Realtors
1 year later… 3 months later… $441 in savings later… I got a call from a couple who said they were referred by their financial advisor and they hoped I could help. They had been trying to get rid of PMI for 2 months. They had called their current lender who said that...
by Athena Paquette | May 7, 2016 | Blog, Home Owners, Investors, Realtors
Long time clients of mine (1998) bought a rental property in 2006. We finally think they have 20% equity and decide to refinance. Then a blow… we get a low appraisal … how is that a win? Well, their loan is from 2006 and they do finally have 10% equity not the 20% we...
by Athena Paquette | Apr 9, 2016 | Blog, Home Owners, Investors, Realtors
If you have less than 20% down, you have to pay PMI. FALSE. There are 2 ways to avoid PMI. One is to do what we called tandem financing or a “piggyback loan.” The first bigger loan is 80% of the price of the home, as if you have 20% down. Then we give you a second...
by Athena Paquette | Jan 26, 2015 | Blog, Home Owners
Dear Homeowner, Congratulations on buying your home in 2014! As you may have heard the Mortgage insurance rates came down last week and so now is your chance to drop your rate and cut your monthly mortgage insurance “PMI” almost in half. There is no qualifying and no...
