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Buying a Home Without Having 20% is Possible

Buying a Home Without Having 20% is Possible

Private Mortgage Insurance Can Help

What is Private Mortgage Insurance?

(Updated Dec 2024) While putting 20% down on a home loan is the most cost-efficient option long-term, we understand that down payments can be difficult for many borrowers to make. To assist home buyers who are unable to put at least 20% down on a home loan, Prevail Bank offers what is called Private Mortgage Insurance, or PMI for short. PMI does come with monthly premiums that are often included in the monthly mortgage payment. The amount of the premium can vary on many factors which is why it’s important to speak with one of Prevail Bank’s Mortgage Loan Originators.

Talk to your local Prevail Bank Mortgage Loan Officer to learn more about Private Mortgage Insurance.

Special Note:  PMI is not an option for everyone.

Linda Susa, Mortgage Loan Originator (NMLS# 1021515):

Linda has been in the banking industry for 42 years, 24 of which she has spent being a mortgage lender. She has been a part of the Prevail Bank team for over 10 years and is an active member within the Owen community. She is on the Owen-Withee Chamber of Commerce Board, the Clark County Community Foundation Board, and is the Treasurer for the town of Eaton, in Clark County. Linda has stated that “what I like most about my job is working with our customers, and making their financial dreams come true!”

 

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