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The 3 Strategies to Pay PMI
Manage episode 402574301 series 3467158
The 3 Strategies to Pay Private Mortgage Insurance (PMI)
Whether they're putting 15% down and buying a non-owner-occupied property or utilizing an owner-occupied loan with 0%, 3%, 3.5%, or 5% down for Nomading™ or house hacking, some real estate investors will choose to put less than 20% down. With the decision to put less than 20% down comes the choice of how to pay for private mortgage insurance (PMI).
There are three options (plus some combinations of the three options): up-front lump sum, lender-paid, and monthly. And, as you might have guessed, there are pros and cons to each option.
In this mini-class, James will cover the three options and go over the pros and cons of each.
Check out the video from this class here:
The 3 Strategies to Pay Private Mortgage Insurance - Video
In this class, James discusses:
- What is Private Mortgage Insurance (PMI) and why does it exist?
- Paying PMI with a single, upfront, lump-sum payment
- Voluntarily increasing your mortgage interest rate and having the lender pay for PMI
- Paying PMI monthly
- The pros and cons of utilizing each strategy
- Plus much more...
Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Overland Park real estate investor podcast? Book a free consultation to discuss.
141 jaksoa
The 3 Strategies to Pay PMI
Overland Park Real Estate Investing & Real Estate Financial Planning™ Podcast
Manage episode 402574301 series 3467158
The 3 Strategies to Pay Private Mortgage Insurance (PMI)
Whether they're putting 15% down and buying a non-owner-occupied property or utilizing an owner-occupied loan with 0%, 3%, 3.5%, or 5% down for Nomading™ or house hacking, some real estate investors will choose to put less than 20% down. With the decision to put less than 20% down comes the choice of how to pay for private mortgage insurance (PMI).
There are three options (plus some combinations of the three options): up-front lump sum, lender-paid, and monthly. And, as you might have guessed, there are pros and cons to each option.
In this mini-class, James will cover the three options and go over the pros and cons of each.
Check out the video from this class here:
The 3 Strategies to Pay Private Mortgage Insurance - Video
In this class, James discusses:
- What is Private Mortgage Insurance (PMI) and why does it exist?
- Paying PMI with a single, upfront, lump-sum payment
- Voluntarily increasing your mortgage interest rate and having the lender pay for PMI
- Paying PMI monthly
- The pros and cons of utilizing each strategy
- Plus much more...
Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Overland Park real estate investor podcast? Book a free consultation to discuss.
141 jaksoa
Kaikki jaksot
×1 Secrets to House Hacking 1:16:42
1 Secrets to Financing 1:21:07
1 Secrets to Down Payments 1:42:51
1 Secrets to Selecting an Investor-Friendly Real Estate Agent 1:22:18
1 Secrets of Nomad™ Real Estate Investing 1:18:11
1 Secrets of Asset Protection 1:24:25
1 Secrets of Hiring and Managing a Property Manager 1:57:27
1 Secrets of Buy and Hold Real Estate Investing 1:07:27
1 Secrets of Tenant Screening 1:24:08
1 Secrets to Marketing to Find Tenants 1:02:25
1 Secrets of the 7 Ways to Invest in Real Estate 1:21:08
1 How to Analyze an All-Cash Rental Property Purchase 1:13:26
1 Functional Obsolescence Unveiled: The Silent Value Killer in Real Estate Investments—and How to Defeat It! 31:06
1 How to Analyze an All-Cash Rental Property Purchase 1:08:51
1 Private Mortgage Insurance Myths 27:25
1 Is it Better to Buy Rentals with 20% Down or For All Cash After Buying an Owner-Occupant First? 31:14
1 The 3 Strategies to Pay PMI 30:00
1 What Affects Your PMI Rate 16:36
1 Is It Better to Rent or Buy an Owner-Occupant Property for 5% Down When Otherwise Buying 25% Down Rentals? 31:27
1 Deal Alchemy™ - Lease-Options 27:18
1 What is PMI And How to Avoid It 21:40
1 Is It Better to Put 25% Down and Buy 9 Rental Properties After Buying an Owner-Occupant or Nomad™ with 5% Down? 33:21
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