Why Choose a Broker Over Big Banks?
Big banks only offer their own rigid loan products—if you don't fit their exact requirements, you get turned down or hit with inflated rates. As an independent mortgage broker, I shop wholesale lenders across the entire market to pair you with the best loan program for your financial goals.
Lower Rates & Fewer Fees: Brokers access exclusive wholesale mortgage rates unavailable to direct retail bank customers.
One Application, Dozens of Lenders: Compare dozens of lenders at once without taking multiple credit hits or filling out repetitive paperwork.
Flexible Approval Standards: Specialized lending solutions tailored for self-employed buyers, complex income streams, or non-perfect credit.
Faster, Personalized Service: Avoid big bank call centers and bureaucratic delays with a single point of contact guiding your loan to a quick close.
Flexible Down Payment Options:
Achieving homeownership doesn't always require a traditional 20% down payment—in fact, many borrowers qualify to buy a home with significantly less upfront cash, or even zero down payment.
0% Down Payment Programs: Qualified buyers can secure 100% financing through government-backed loans like VA loans (for eligible military service members and veterans) and USDA loans (for homes in qualifying rural and suburban areas).
Low Down Payment Options: Standard conventional mortgages allow first-time homebuyers to put down as little as 3%, while FHA loans offer accessible financing options with a low down payment requirement of just 3.5% for credit scores as low as 580.
Down Payment Assistance (DPA): State and local programs offer grants, forgivable loans, and second mortgages to help cover closing costs and initial down payment requirements for qualifying buyers. See if you qualify
Gift Funds & Grants: Many conventional and government loan guidelines allow buyers to use financial gifts from family or non-profit grants toward their entire down payment amount.
PMI which option is best? Lender or borrower paid PMI?
When purchasing a home with less than a 20% down payment, Private Mortgage Insurance (PMI) is usually required. 1 The decision between Borrower-Paid PMI (BPMI) and Lender-Paid PMI (LPMI) comes down to how long you plan to stay in the home and your priorities regarding long-term cost versus immediate qualifying power.
Feature Borrower-Paid PMI (BPMI) Lender-Paid PMI (LPMI)
How You Pay Separate monthly fee added to your payment. Higher interest rate for the entire life of the loan.
Interest Rate Standard lower rate. Typically 0.25% to 0.50% higher.
Cancellation Automatically drops at 22% equity (or requested at 20%). Cannot be cancelled without refinancing.
Best Long-Term Yes, if staying in the home long-term. No, payment stays high indefinitely.Which Option Is Best?
1. Choose Borrower-Paid PMI (BPMI) if:
You plan to stay in the home for more than 5–7 years: BPMI is designed to disappear. Once your principal balance drops to 80% of the home's value (or market values rise, giving you 20%+ equity), you can drop the insurance fee entirely, leaving you with a lower monthly payment and a lower interest rate.
You expect home values in your area to appreciate: Rising equity lets you request PMI removal even faster.
2. Choose Lender-Paid PMI (LPMI) if:
You plan to sell or move within a few years: Because the monthly premium isn't added as an itemized fee, the initial monthly payment with LPMI can sometimes be slightly lower short-term than BPMI + mortgage combined. If you sell before reaching 20% equity, you won't suffer from the permanent higher interest rate.
You need lower Debt-to-Income (DTI) to qualify: In certain scenarios, an LPMI's higher interest rate yields a total monthly payment slightly lower than standard principal + interest + heavy monthly PMI, helping you qualify for a larger loan.
The Bottom Line:
For most long-term homeowners, Borrower-Paid PMI (BPMI) is the better option because it provides a clear exit strategy to eliminate the extra cost completely. Ask your loan officer for a side-by-side break-even analysis comparing total payments over 5, 10, and 15 years to see which math works best for your specific credit profile and loan amount.
Apply today - See how much home you qualify for