McLean Mortgage Corporation
Mortgage Insurance Payment EliminatorSM
Introducing the Mortgage Insurance Payment EliminatorSM Program
Save Money And Get A Maximum Deduction For Your Mortgage Payment!*
The Mortgage Insurance Payment Eliminator Program enables McLean Mortgage to cover mortgage insurance payments on your behalf through lender mortgage insurance. By covering your PMI and eliminating it from your payments, you will have a lower monthly payment through the entire life of your loan … not just when you reach 20% in equity you’ve paid down.
Higher Tax Deductions
Because mortgage interest is tax deductible for primary residences and second homes, you are able to take advantage of maximum tax deductions* while you minimize the cash you will need to purchase a home. A complete win-win when you purchase a home, lower payments and extra savings at tax time.
PMI is inevitable with less than 20% down, but that doesn't mean you have to be the one to pay it!
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. Talk to your trusted mortgage advisor for specifics.
Now Available With As Little As:
3% Down to $424,100** 5% Down to $636,100 10% Down to $850,000
* 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.
**The 3% down alternative requires a higher minimum credit score.
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.