Helping You To Buy The Home You Want
Mortgage insurance (MI) allows you to choose from a wider price range of homes.
How? We can generally accept a lower down payment than the standard 20% if Rancho Santa Fe Mortgage Corporation obtains mortgage insurance on your loan through a mortgage insurance company.
You can not only get the home you deserve, but you can conserve your savings and
increase your income tax deductions, just by putting less money down.
Buy More Home
You may be able to afford more home and maximize your investment if Rancho Santa Fe Mortgage Corporation obtains your Mortgage Insurance for you.
| |
Without MI |
With MI |
| Down Payment |
20% |
10% |
5% |
| Your Available Savings |
$20,000 |
$20,000 |
$20,000 |
| Maximum Home Price |
$100,000 |
$200,000 |
$400,000 |
Financing a home with a low down payment may be the best way to afford a home in high-priced markets.
Conserve Your Savings
The lower your down payment, the more you retain for home furnishings, other investments,
future emergencies, or even college tuition.
| |
without MI |
with MI |
| Home Price |
20% |
10% |
5% |
| Down Payment |
20% |
10% |
5% |
| Cash Down Payment |
$20,000 |
$10,000 |
$ 5,000 |
| Your Available Savings |
$20,000 |
$20,000 |
$20,000 |
| Savings Retained |
$0 |
$10,000 |
$15,000 |
Even if you have less than $20,000 saved, you can still afford to buy a $100,000
home with a lower down payment option if Rancho Santa Fe Mortgage Corporation obtains MI on your qualified loan from a mortgage insurance company.
Increase Your Tax Write-off
A larger loan amount will have higher interest payments and could result in higher
tax deductions.
Special Note
It is very important to understand that you must have additional 'reserve' cash
after the down payment. Reserves should equal a minimum of 2 to 3 months housing
payment, taxes and insurance.
