Have You Heard of This FREE Insurance Plan To Cover Mortgage Payments If You Lose Your Job?

HouseMortgage Assure provided by Radian Guaranty insures that your mortgage will be paid for up to 6 months if you involuntarily lose your job. And there is no cost to the borrower or the lender. Borrowers who purchase a home using 97% LTV financing or refinancing at 97% LTV are eligible. FHA loans and HARP refis are not included.
This program is effective for Mortgage Insurance Applications on or after May 2015. Any mortgage with a high LTV will require the purchase of mortgage insurance. Any lender with a Radian Master Policy is eligible to participate and can opt out if preferred. Coverage is available on all Monthly, Split Edge and Standard Annual products only.
Mortgage Assure provides payments up to $1500/month for up to 6months not required to be consecutive. A total benefit of $9,000 is provided during the coverage period. The coverage period is 2 years from the closing of the loan. This is a great benefit for borrowers as it may help preserve savings, retirement, and college funds.
Borrowers are eligible with a 95.01% – 97% LTV purchase for a primary, owner-occupied, single family home. At least one borrower must not be self-employed.
The purpose of the program is to increase interest in high LTV conventional financing, while offering a level of default protection that benefits the borrower, lender, and Radian Guaranty.  For more info go to:http://www.radian.biz

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