Nolting Real Estate offers the PowerPlus Mortgage

PowerPlus is an exclusive mortgage program offered to Nolting Real Estate's clients in cooperation with First Integrity Mortgage Services. With PowerPlus, borrowers who have used credit wisely and have good credit scores can reduce their housing costs by avoiding PMI payments (Private Mortgage Insurance).

The PowerPlus secret:
Many real estate professionals refer to this loan as a piggyback loan - a single loan that is divided into two (2) parts, a 1st mortgage plus a 2nd mortgage for the remaining balance. Most piggyback loans are at high interest rate. But PowerPlus is different. Nolting Real Estate’s end investor on the PowerPlus 2nd mortgage are not-for-profit institutions that provide Nolting Real Estate's clients with below market interest rates.

Both Fannie Mae® and Freddie Mac® permit piggybacks as a viable alternative to private mortgage insurance.

PowerPlus Piggyback loans are a definite value for:

º Consumers with less than a 20% down payment who want to avoid having private mortgage insurance (PMI) added to their monthly payments. PowerPlus savings
º Consumers who want to avoid paying JUMBO interest rates. Jumbo Loans (currently $417,000 and above) generally have a higher interest rate than loans less than $417,000. Using PowerPlus allows borrowers to borrow the 1st $417,000 at market rates and the balance into a low-rate PowerPlus 2nd mortgage.

Are You a Candidate for PowerPlus? Your Nolting Real Estate agent can determine if a PowerPlus mortgage is a viable alternative to PMI (private mortgage insurance). Please call Russell Nolting at 314 267 2636 for more information.