Dropping Your PMI & Lowering Your Mortgage Payment
When was the last time you checked in on your PMI?
Your Private Mortgage Insurance. That $100-$200 extra fee in your mortgage payment that you’re paying because you didn’t put 20% down? Sound familiar? (If not, no problem. Shoot me an email and I’ll help you figure it out!)
Did you know you can drop that off your payment when you reach 20% in equity? It may be easier than you think!
I was speaking with a client recently whom I sold a house to less than 2 years ago, and she’s already eligible to drop that pesky fee and save some money!
Your mortgage provider will drop it for you, but not until you have surpassed the 20%, and by then you’ve already overpaid 💸
If you are curious if you’ve reached that 20% threshold yet (and you’re local to the Charleston Tri-County area), shoot me an email and grab a couple pieces of info to look into it for you. Ain’t nobody got time to be paying more than they need to for anything these days!
Note: if you have an FHA loan, you are not eligible to drop your PMI at any time.
watch my 20 second video of this topic
Valerie Weber
Realtor, Mentor & Blogger
The Shahid Team @ The Boulevard Company
Voted 2022 Female Agent Changing the Industry
thecharlestonhome@gmail.com
843-973-2445
blog: www.TheCharlestonHome.co
instagram: www.instagram/thecharlestonhome