What is MI or as sometimes referred PMI ?
Mortgage Insurance (MI) or Private Mortgage Insurance (PMI) is not required on the Professional Mortgage Program. Physicians, Resident Doctors, and Dentist have been evaluated as less risk for some select lenders. These lenders have made a huge exception to lending policy to waive this insurance requirement. As further explanation, other common place lenders without the strength and stability simply can not afford to make this exception and therefore require it as part of the clients payment. The insurance is to offset losses taken by these common place lenders should you not be able to make your payment. DoctorMortgageAlliance has positioned itself with only the strongest and most stable of lenders. MI is not required on any of the Professional loans they provide. For additional information just click here.
