MI Buster AA-Stars

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Say hello to your dream home with our MI Busting offer! With as little as 3% down, you can enjoy freedom from mortgage insurance and still snag a great interest rate. This loan is an alternative to those that normally require mortgage insurance, but still combines a 30-year fixed-rate with a low monthly payment. Free up that monthly cash flow without the Mortgage Insurance, or try out one of our other 3% down payment options.

 FHA
30-year Fixed
Conventional
30-year Fixed
Conventional with
Lender Paid MI
30-year Fixed
Academy Advantage
MI Buster
30-year Fixed
Credit Score740740740740
Purchase Price$300,000$300,000$300,000$300,000
Loan Amount$289,500 + 1.75% Financed
UFMIP = $294,566
$291,000$291,000$291,000
LTV96.5%97%97%97%
Interest Rate5.000%4.875%5.625%5.500%
APR6.080%5.361%5.703%5.577%
Principal and Interest (P&I)$1,581$1,540$1,675$1,652
Monthly MI$205.06$140.65$0$0
Total P&I + MI$1,786.06*$1680.65*$1,675.00*$1,652.00*

*Examples do not include taxes, hazard insurance, flood insurance or other maintenance payment requirements as may be required – and pricing of MI for conventional loans assumes at least two borrowers with FICO scores of 740 or higher

CONTACT US for more information about Academy Mortgage, your 1st CHOICE Home Loan Lender!