02/09/2023
Finally! A new company is being formed to allow borrowers an opportunity to "refinance" their PMI! This soon to be active business known as Bust PMI aims to disrupt the PMI industry. We have heard it all before, "why can't I lower my PMI, my credit was bad at time of the mortgage origination but now it is excellent" or "my lender says I have to refinance my mortgage to reduce my PMI, it is going to cost thousands in fees and rates are higher today, I just want to lower my PMI." We hear you. Follow us and be the first to know when we go live. Initially we will work with credit unions and their members and will expand from there.
If there is a licensed insurance company willing to reduce your PMI because you have great payment history and other positive factors, shouldn't you get the lower PMI rate? Shouldn't the lender want to put you in a better financial position while not increasing their risk? It just makes sense.
