Save cash And Get A Maximum Deduction For Your Mortgage Payment*.
- There’s No Cost Up-Front To You
- You Eliminate Any Non-Deductible Insurance Costs*
- Available With As Little As 5% Down to $625,500 and 10% Down to $850,000
The Mortgage Insurance Eliminator PlusSM Program enables McLean Mortgage to cover mortgage insurance payments on your behalf. Because interest is tax deductible for primary residences and second homes, this means you are able to take advantage of maximum tax deductions* while you minimize the cash you will need to purchase a home.
If you are putting less than 20% down on a conventional loan, you must pay for mortgage insurance coverage that protects lenders against default. Mortgage insurance payments may or may not be tax deductible* and/or may require significant cash up front.
*Mortgage Insurance payments can be deductible as well in certain years, depending upon your income level. You should consult with a tax professional to find out the benefits of deducting your mortgage interest payments and deducting mortgage insurance payments and whether you are eligible for these deductions.
Lender Paid Mortgage Insurance would be provided through a company chosen by McLean Mortgage Corporation. Your interest rate may vary based upon required mortgage insurance coverage. This is not a commitment to lend. Certain restrictions may apply.