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.
We offer the benefit of Wholesale Mortgage Rates with Exceptional Personal Service.
Company DRE# 01400067
Company NMLS# 235745
3940 Hancock Street, Suite 109
San Diego, CA 92110
Phone: (866) 310-4545
California Lending Company is a registered trademark of California Lending Company Inc.