Could Obtaining Private Mortgage Insurance (PMI) Help Me Qualify for a Larger Loan?

Yes, it will help you obtain a larger loan, here’s why. Let's say that you are a family with $42,000 Annual Gross Income and monthly revolving debts of $800 for car payment and credit cards, and you have $10,000 for your down payment and closing costs on a 7%-interest mortgage. Without PMI the maximum price you can afford is $44,600, but with PMI covering the lender's risk you now can buy a $62,300 house. PMI has afforded you 39% more house.

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We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: 298205
www.nmlsconsumeraccess.org

Contact Us

1421 N Wanda Road, Suite 120-V6
Orange, California 92867
dwood@businesswestmortgage.com
Phone: 714-995-9073 / 562-493-2641
Brandon@businesswestmortgage.com
Phone: 714-470-3409

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