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logo
  • Home
  • Home Purchase
  • Refinance
  • Apply Now
  • Today's Rates
  • Resources
  • Loan Programs
  • Loan Process
  • Mortgage Basics
  • Mortgage Calculators
  • Online Forms
  • FAQ
  • About
  • Contact
  • Blog
  • (918) 416-0479

How Does the Buyer Apply for PMI?

Typically the buyer covers the cost of PMI, but the lender is the PMI company's client and shops for insurance on behalf of the borrower. Lenders usually deal with only a few PMI companies because they know the guidelines for those insurers. This can be a problem when one of the lender's prime companies turns down a loan because the borrower doesn’t fit its risk parameters. A lender might follow suit and deny the loan application without consulting a second PMI company which could leave all parties in an undesirable position. The lender has the difficult task of being fair to the borrower while shopping for the most effective way to lessen liability.

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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: MB011966
www.nmlsconsumeraccess.org

Contact Us

3101 N Hemlock Cr. Suite 1001
Broken Arrow, Oklahoma 74012
Phone: (918) 416-0479
info@moreequitymortgage.com

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