MIP Fee for FHA Loans

Author Message
Icon Mini Profile noelle_t_Croteau




Joined: 03 Nov 2009

Posts: 1

1.28 Dollars($)
PostPosted: Tue Nov 03, 2009 11:55 am    Post subject: MIP Fee for FHA Loans

Hi, I have read a few of your posts about MIP fee's. i'm trying to refiance my home after a divorce and i have been informed that i have to go FHA. There are so many fee's it's just rediculious. Why if i'm only borrowing 110 on a house thats worth 160 do i have to pay MIP fees?
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor


Joined: 09 Nov 2007

Posts: 7448
Location: bloomfield, ct
70.12 Dollars($)
PostPosted: Tue Nov 03, 2009 2:03 pm    Post subject:

fha is a guarantor of loans. the mip fee is paying for that protection. loan to value ratios have no bearing on the need for mip on an fha loan.
_________________
George M. Akerley
Loan Consultant

860-221-5044
Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit Live Help

Explore the lender near you

Google Map Image

MF Talk



DebtConsolidationCare    Insurance community: We Make You Insurance Smart    CreditMagic: Helping you build up credit


We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0