Please Note: JVM Lending is temporarily unable to accept new refinance applications. We have met our maximum loan volume capacity and are unable to process additional applications without sacrificing the 5-star experience to which our valued clients are accustomed. We sincerely apologize for this inconvenience.

We are still accepting new home purchase applications, and still have capacity in our purchase loan division.

Posts

Lender Paid M.I. Revisited – Why We Don’t Recommend It

We have been asked numerous times lately about “LPMI,” and it reminded us to re-publish the below comments. We have many conventional borrowers with less than 20% equity (or down payment) and an aversion to Private Mortgage Insurance (PMI). These borrowers often ask about Lender Paid Mortgage Insurance or “LPMI.” With LPMI a lender simply […]Read More

95% LTV With No PMI? LPMI Not A Good Deal.

Many lenders are again touting their 5% or 10% down loans with no private mortgage insurance (PMI). Almost all lenders (including JVM) offer this through a product called Lender Paid Mortgage Insurance (LPMI). With LPMI, borrowers take a higher rate in exchange for no PMI. Lenders get more yield premium or commission with the higher […]Read More

Lender-Paid-Mortgage-Insurance – Overrated?

Many lenders tout Lender-Paid-Mortgage-Insurance (LPMI) as a way to avoid mortgage insurance. In fact, one of our lending sources (Quicken) has extremely good LPMI rates. With LPMI, borrowers can avoid mortgage insurance altogether by taking a slightly higher interest rate (3/8 to 1/2 percent higher for a 90% LTV for example). There is no free […]Read More

Lender Paid M.I. – Why We Don’t Recommend It

We talked a borrower out of pursuing “LPMI” yesterday, and it reminded us to re-publish the below comments. We have many conventional borrowers with less than 20% equity (or down payment) and an aversion to Private Mortgage Insurance (PMI). These borrowers often opt for Lender Paid Mortgage Insurance or “LPMI.” With LPMI a lender simply […]Read More

Lender Paid M.I. – Why We Don’t Recommend It

We have many conventional borrowers with less than 20% equity (or down payment) and an aversion to Private Mortgage Insurance (PMI). These borrowers often opt for Lender Paid Mortgage Insurance or LPMI. With LPMI a lender simply waives PMI requirements in exchange for a higher interest rate. For example, a $400,000, 90% LTV loan might […]Read More