Anyone shopping for a house should be aware of some important deadlines for FHA borrowers. Many of us rely on low down payment mortgage options when seeking to become a home owner. FHA mortgages, backed by the Federal Housing Administration, are one low down payment mortgage loan option. Increasing Monthly Insurance Premiums While the 3.5% …
Tag Archive: mortgage insurance premium
PMI Payment Options
Private mortgage insurance can be paid on either an annual, monthly or single premium plan. Premiums are based on the amount and terms of the mortgage and will vary according to loan-to-value ratio, type of loan, and amount of coverage required by the mortgage company. Under an annual plan, an initial one year premium is …
