What is PMI?

Private Mortgage Insurance protects lenders against loss if a borrower defaults. Private Mortgage Insurance is generally required for a loan with an initial loan to value (LTV) over 80%. In most cases, this means that you will have to pay Private Mortgage Insurance if your down payment is less than 20% of the value of the home you are purchasing or refinancing. The cost of the mortgage insurance is typically added to your monthly mortgage payment. With TRP Lending, you can purchase or rehab a 1-4 unit property with as little as 3% down and NO PMI. Plus, we have down payment assistance available!  

Contacts us for more information on our loan product!

Samantha Arroyo, Mortgage Loan Originator, TRP Lending, LLC – NMLS: #283355

(312) 880-1881