Posted on: 04th Aug, 2009 08:52 am
Hi,
Will the borrower have to pay a Mortgage Insurance Premium if the LTV is less thn 80% on a 30 Year FHA Loan??
Will the borrower have to pay a Mortgage Insurance Premium if the LTV is less thn 80% on a 30 Year FHA Loan??
Yes.
Always for a 30 year fixed rate mortgage. The size of the down payment does not matter.
Will have to pay the 1.75% of the base mortgage Up Front Mortgage Insurance Premium as well as the monthly mortagge insurance premium.
The monthly premium must be paid at least five years before it can be gotten rid of.
Always for a 30 year fixed rate mortgage. The size of the down payment does not matter.
Will have to pay the 1.75% of the base mortgage Up Front Mortgage Insurance Premium as well as the monthly mortagge insurance premium.
The monthly premium must be paid at least five years before it can be gotten rid of.
one needs to pay 1.75% Insurance premium in case of FHA loan
Guest,
If you take a FHA loan and make less then 20% down then you will have to pay MIP of 1.75% and also monthly PMI
If you take a FHA loan and make less then 20% down then you will have to pay MIP of 1.75% and also monthly PMI
Yes you have to pay them for FHA loans and they are higher in amount than conventional mortgage insurance premiums. LTV has rather no significance.