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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Jeremy McMichael was fantastic at getting us a home mortgage rate quote within a few hours of my request, and was able to save us a great deal of money from our current lender. We were extremely pleased with his professional demeanor and attn to detail.
5 stars on 7/18/2021
Jeremy had excellent patience with all of my questions. He was always extremely responsive with communication, even despite my odd work schedule. He helped me tremendously during my new home purchase. I have already recommended him to family and friends.
5 stars on 7/11/2021
My wife and I were moving to this area, which is over 2 hours from where we currently live. Along with his other professional partners, they were able to get us into our dream home, and on extremely short notice! One of the best things that stood out to us on Jeremy's side was his extreme straightforwardness to all of our questions, as well as in instructing us on everything that needed to be done. Don't get me wrong, he wasn't at all pushy, but rather ensured that we wouldn't run into any snags. Given our currently extremely hectic circumstances (moving to the area due to a new job, on short notice, while juggling raising a less than 2 year old toddler, from over 2 hours away, etc), he was very understanding yet made sure we completed everything in a timely manner. At the same time, he answered all of our questions and concerns very professionally and courteously. As first time home buyers, I can't imagine having gone through this entire process without Jeremy's expertise as well as his professional partners he works with. We have been truly blessed to be able to work with everybody we did, and to now be settling into our dream home!