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Mortgage Brokers in Pennsylvania
Financial Access, LLC
"Property Ownership Within Reach"
First and Second Mortgages · Purchases · Refinancing · Home Equity Loans · Lines of Credit
Ph: 267-382-0690 Toll Free: 866-636-9300 · Licensed in Pennsylvania
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Equal Housing Lender

Case Studies -->>

Lender-Paid Mortgage Insurance (LPMI)

Lender-Paid Mortgage Insurance is based on the same concept as mortgage insurance. If the borrower finances over 80% of the loan, they are subject to mortgage insurance. Instead of paying an additional mortgage insurance payment each month, the lender pays the MI premium and charges a slightly higher interest rate. Homebuyers may find LPMI offers advantages over the more traditional borrower-paid MI.

  • No monthly MI premiums
  • No MI closing cost
  • Lower monthly mortgage payment (in most cases, compared to mortgage payment plus traditional MI premium)
  • Potential for qualifying for a larger loan
  • Potential for greater tax benefits
  • Significant savings over the life of the loan.
The advantages may not apply to all borrowers. Contact your tax preparer or CPA/Accountant to review your tax benefits for paying a higher interest rate versus PMI monthly payment.

The LPMI will increase the final rate of your loan. The rate is based on the following list. The qualifications are subject to change daily.

  • Loan balance
  • FICO score
  • Appraised value
  • Type of loan (fixed, interest only, adjustable)
  • Type of dwelling
  • Type of loan (rate and term or cash out)
Contact us by simply phoning 267-382-0690, toll free at 866-636-9300 or by form to review the benefits of LPMI and to inquire if you qualify for the program.

Financial Access, LLC
440 Auburn Court, Souderton, PA 18964
Phone: 267-382-0690 · Toll Free: 866-636-9300 · Fax: 267-382-0634

Licensed by Pennsylvania Dept. of Banking
Pursuant to the First and Secondary Mortgage Loan Act