On a conventional mortgage, when your down payment is less than 20% of the purchase price of the home mortgage lenders usually require you get Private Mortgage Insurance (PMI) to protect them in case you default on your mortgage. Sometimes you may need to pay up to 1-year's worth of PMI premiums at closing which can cost several hundred dollars. The best way to avoid this extra expense is to make a 20% down payment, or ask about other loan program options.
About Us
As a Lender, United Lending has been helping customers afford the home of their dreams for many years.
Getting a home loan with United Lending is easier than you think. With over a decade of mortgage experience, we make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.
"Finding The Right Mortgage Option For You Is Our Business".