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what does month mip mean?

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GEOPOMPA Joined: 20 Feb 2011 Posts: 1 1.23 Dollars($)	Posted: Sun Feb 20, 2011 5:59 am    Post subject: what does month mip mean? Like 0 Dislike 0 what does monthy mip total payments. I'm ub=uying a house.
brian1 Community Expert Joined: 14 Jun 2008 Posts: 448 Location: Northern California 15.61 Dollars($)	Posted: Sun Feb 20, 2011 9:39 am    Post subject: Like 0 Dislike 0 MIP = Mortgage Insurance Premium - this is the amount you will pay every month to guarantee your loan - since you will be either using FHA or putting less than 20% down. If using FHA you will also be charged an up front MIP which is added to the amount of your loan B _________________ Licensed Broker 50 states http://www.aimwithfocus.com Live Chat available Need quick advise email or PM Glad to help Pre-approvals www.applyonlinesecure.com

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