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what does month mip mean?

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Icon Mini Profile GEOPOMPA





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Post Posted: Sun Feb 20, 2011 5:59 am    Post subject: what does month mip mean?
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what does monthy mip total payments. I'm ub=uying a house.
Icon Mini Profile brian1
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Post Posted: Sun Feb 20, 2011 9:39 am    Post subject:
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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
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