Mortgage and Real Estate Blog

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Free Job Loss Mortgage Payment Protection - get buyers off the fence

Lets face it, buying a home is scary.  Especially for first time home buyers.

One of the big fears is job loss, and inability to make their mortgage payment if they lose their job. When looking at foreclosure statistics, many of the people who had a short-term job loss or gap in employment simply got too far behind on their loan to ever catch back up.

But what if these buyers had a Mortgage Payment Protection plan to make payments in the even of job loss?

Mortgage Unlimited, which lends in Minnesota, Wisconsin, and South Dakota provides home loans with this protection FOR FREE in conjunction with Radian Guaranty, the mortgage insurance company.

You can get involuntary unemployment coverage on our 3% down payment conventional loans.

Here is how it works:

  • up to six months mortgage payments, not required to be consecutive
  • maximum monthly benefit of $1500
  • total protection of up to $9,000 during coverage period
  • two years coverage beginning on loan closing date
  • provided at no cost to the home owner

Program Eligibility

  • 97% conventional loans (3% down loans) ONLY
  • primary, owner occupied single family homes
  • at least one borrower NOT self employed

Now home buyers with a small 3% down payment can get off the fence and buy a home in uncertain economic times, and minimize any financial stress by relieving them of the worry of late mortgage payments.

This program is nationwide, so be sure to contact a lender in your state to see if they offer the program, and contact me at (651) 552-3681 for homes in MN, WI, and SD.

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 Joe Metzler is a Senior Mortgage Loan Officer for Minnesota based Mortgages Unlimited. He was named the 2014 Minnesota Loan Officer of the Year, and was ranked #98 of the Top 100 Loan Officers in the Nation by Origination News. He provides Home Mortgage Loans in MN, WI, and SD. He can be reached at (651) 552-3681.

All information contained herein is subject to change without notice. Product may not be available in all states, and may be modified or withdrawn at anytime.

 

Comment balloon 0 commentsJoseph Metzler • July 24 2015 01:26PM
Free Job Loss Mortgage Payment Protection - get buyers off the fence
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