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First and Second Mortgages

A Plus Mortgage Solutions, Inc. offers mortgage programs for both first and second mortgages including first and second combination loans. A first and second combination is useful for clients who are putting less than twenty percent down on a purchase and want to avoid paying Private Mortgage Insurance (PMI). PMI is insurance that a lender requires a borrower to pay for that covers the lender in the event that the borrower defaults on the mortgage. It does NOT benefit the borrower in any way. The PMI rule only applies to conforming first mortgage programs. So, in order to avoid paying PMI, a client can take out a first mortgage up to eighty percent of the purchase price and a second mortgage up to fifteen percent of the purchase price. Thus, only putting five percent down, but still avoiding PMI because the loan to value on the first mortgage is less than or equal to eighty percent.

   

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July 30 , 2015

Jeremy always gets the job done well and on time without worry and stress. - Sally Chaplin

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5 stars on 9/21/2020

I was first time home buyer and Jeremy was very knowledgable, and above all extremely patient. It was a learning process from the start and Jeremy walked me through each step and helped me understand them along the way. I'm very thankful for his services.


5 stars on 9/18/2020

Jeremy was fantastic to work with. He was very responsive and answered all of my questions quickly. He was able to help me quickly get pre-approved and secure a great rate. I highly recommend him.


5 stars on 9/18/2020

The headline says it all. Jeremy made the unbearable process of getting a mortgage easy and tolerable. He answered all our thousand questions promptly.


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