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logo
  • Home
  • Apply Now
  • Reference
  • Loan Process
  • Loan Programs
  • Mortgage Calculators
  • FAQ
  • About Us
  • Meet the Team
  • Contact
  • Locations
  • Branch Locations
  • 269-488-7100
logo
  • Home
  • Apply Now
  • Reference
    • Loan Process
    • Loan Programs
    • Mortgage Calculators
    • FAQ
  • About Us
    • Meet the Team
    • Contact
  • Locations
    • Branch Locations
  • APPLY NOW

Could Obtaining Private Mortgage Insurance (PMI) Help Me Qualify for a Larger Loan?

Yes, it will help you obtain a larger loan, here’s why. Let's say that you are a family with $42,000 Annual Gross Income and monthly revolving debts of $800 for car payment and credit cards, and you have $10,000 for your down payment and closing costs on a 7%-interest mortgage. Without PMI the maximum price you can afford is $44,600, but with PMI covering the lender's risk you now can buy a $62,300 house. PMI has afforded you 39% more house.

Mortgage Calculator

Our user-friendly calculator puts you in charge of estimating your mortgage payment.

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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: 110139
Amerifirst Home Mortgage is a division of Amerifirst Financial Corporation

Contact Us

269-488-7100
800-385-7052

kmorgan@amerifirst.com 

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  • Not all borrowers will qualify; contact us for more information on fees and terms.

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