Integrated Mortgage Insurance ProgramSM (IMAGINSM)
If you have ever been concerned about the monthly payment associated with the purchase or refinance of a home, then IMAGIN might just be perfect for you. Imagine an opportunity to save money on your monthly mortgage payment by potentially eliminating the monthly mortgage insurance premium.
In most cases, a mortgage loan with a down payment that is less than 20% will result in an automatic mortgage insurance premium. The alternative is to utilize IMAGIN for a streamlined experience and potentially a lower monthly cost.
IMAGIN is another form of front-end mortgage insurance and will complement Borrower-Paid Mortgage Insurance (BPMI) and Lender- Paid Mortgage Insurance (LPMI) options that are currently available. The exciting part about IMAGIN is that it can help borrowers achieve a lower monthly payment. The program is available for purchase loans or no-cash out refinancing with eligible properties.
This mortgage insurance alternative option was released in October 2018 and is available now with Freddie Mac conforming and super conforming loan transactions.
Call today for more information about this and other great programs.
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