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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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Recent Posts - Category

July 30 , 2015

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

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Zillow reviews

5 stars on 2/24/2021

Jeremy found a lender that moved us from our original VA loan to a conventional loan that gave us a discount on closing cost for refinancing the mortgage. Secondly he found a lender that allowed for exception to "escrow" account for taxes and insurance which saves us between 10-15% of the annual taxes and insurance fees that would normally be paid to the finance company. Additionally we were able to take a small cash out amount that was needed to pay medical expenses. Jeremy's attention to detail and follow-up protocols allowed for our application, appraisal and closing to be completed as scheduled. This is the second time we have used Jeremy and his team for a home loan and have recommended him to our neighbors who have since utilized his services as well. His professionalism and knowledge of ever changing banking procedures shines through the process to prevent as many surprises as possible, Which we had only one minor issue that we were unaware of and it was explained to our satisfaction. With all the documents prepared correctly to smallest detail, we were finished in roughly 30 minutes and on our way home. We couldn't be happier with the service of Jeremy and his staff.

5 stars on 2/23/2021

Since the beginning of my home buying process and even all the way up to closing, Jeremy was extremely communicative and stayed on top of the process as well as let me know of any details or changes that would come up. It was the most seamless home buying process I have ever been through and will definitely use his company again!

5 stars on 2/22/2021

As a first-time homebuyer, I am grateful to have worked with Jeremy. He made the process of obtaining a mortgage, from start to finish, so easy for me and completed my loan without a hitch.Jeremy was friendly, communicative, and knowledgeable. He was able to work with my individual circumstances and get me the loan that was best for me. I felt that he genuinely cared to help me get the best loan possible.The realtors that were present on closing day expressed how impressed they were with Jeremy's ability to get everything done accurately and on time during COVID, when some closings are getting delayed!I would absolutely recommend Jeremy to anyone looking for a mortgage. I know I will be a repeat customer with my next home purchase.

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