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محتوای ارائه شده توسط Real Estate Financial Planner LLC and James Orr and James Orr. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Real Estate Financial Planner LLC and James Orr and James Orr یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
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What is PMI And How to Avoid It

21:34
 
اشتراک گذاری
 

Manage episode 389750529 series 3467142
محتوای ارائه شده توسط Real Estate Financial Planner LLC and James Orr and James Orr. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Real Estate Financial Planner LLC and James Orr and James Orr یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.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 Norfolk real estate investor podcast? Book a free consultation to discuss.

  continue reading

107 قسمت

Artwork
iconاشتراک گذاری
 
Manage episode 389750529 series 3467142
محتوای ارائه شده توسط Real Estate Financial Planner LLC and James Orr and James Orr. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Real Estate Financial Planner LLC and James Orr and James Orr یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.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 Norfolk real estate investor podcast? Book a free consultation to discuss.

  continue reading

107 قسمت

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