|
Credit-Power.org
|
Home Buyer Education and Financial Counseling
The recent implosion of sub-prime and adjustable rate mortgages has resulted in higher costs for Private Mortgage Insurance for borrowers with credit scores below 660- who are applying for low down payment loans. Most Mortgage Insurance Companies will discount the PMI rates when the applicant has face-to face counseling by an approved counselor. The PFHO is an approved counselor for the following Mortgage Insurance companies:
Genworth, MGIC, PMI, and Radian
We now offer such counseling on a monthly basis and occasionally by appointment. The cost of counseling is $250 payable at closing, a discounted rate from our standard $350 rate. Individual Financial Counseling is done by appointment as part of this fee. The fee can be paid by the lender, the borrower, the seller or from grant funds.