fha pmi

Not on an FHA loan, unfortunately. They always require MIP (Mortgage Insurance Premium). However, the premium amount is slightly less when you put more than 10% down. You CAN nearly eliminate the MIP if you go with a 15 year fixed.

Fha Loans will require mortgage insurance for a minimum of 60 months. If you have 20% or more for down payment and an a decent credit score, a conventional loan may be a better option for you. That program would not have mortgage insurance. We are a direct lender in CT. call or email me for a free breakdown of your purchase loan options. Pbotros@omegaloans.net or 908-933-0253 ext 319 or just ask for Peter.

All FHA loans over a 15-year term require initial monthly mortgage insurance required regardless of down payment. For FHA loans with LTV less than, or equal to, 78 percent : No monthly insurance required. All FHA loans still have the initial up-front mortgage insurance premium. Need an FHA loan in MN? Visit http://fha-streamline-refinance-mn.com

Yes, but why?? if you use FHA and go 15 years, and put 22% or more down, you will not have to pay monthly MI, but you will still pay the FHA upfront premium of1.75% .. if you have 20% or more to put down, you will get better use of your money by going conventional financing.. no MI or upfront MI.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

No. If you are going to put 30% down, go conventional. If you can't go conventional, because of credit issues in the past, like say, a foreclosure 3 years ago, FHA is the only way to go because you would be deemed a high risk borrower by conventional lenders leaving only FHA as a possible solution. Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

If you are putting that much down, why do you feel you have to go FHA. Please call me to discuss your options at 203-929-0001.Thank YouJim Lumento

Unfortunately mortgage insurance on FHA mortgages is required. There are other financing options to avoid private mortgage insurance. Please call me for a free quote at 1-800-737-1366 ext. 202. Steven N Taylor-President/Loan Officer MLO#4349 First Northern Financial Group, Inc. MB#1537 980 Eddie Dowling Highway N.Smithfield, RI 02896

At 80% loan-to-value, which is putting 20% down, there is no longer a requirement for private mortgage insurance. Therefore putting 30% down would also eliminate private mortgage insurance.

Only on 15 year FHA. On 30 year you will need to wait a minimum of 5 years to get the monthly mi removed assuming the vale is 78% or less. Why would you want an FHA mortgage if you are putting down so much? Call me and I can answer all your questions. 203-525-3672

Your better off with going a conventional mortgage. If your score is below 620 I would say use a portion of your down payment to increase your scores. It would save you a substantial amount of money in the long run. Our organization has a free credit improvement program.

Without MI, you need to get a 15 year fixed. I assume that you don't have a 660 credit score to get a conventional loan? If you have at leaset a 660, you should get a conventional loan 30 year fixed.Call or e-mail to explore your mortgage options. janet@commercialct.com 860-866-5504

If you do a 15 year FHA but if you are doing a FHA instead of a conventional loan putting so much money down I would say you have a high debt to income ratio and if that is the case a 15 year would not work. On a 30 year FHA loan you have to pay pmi a minimum of 5 years. We cover CT feel free to reach out to us and and let us see what we can figure out for your situation. 201-962-3555 or Team@BestMortgageOption.com

FHA DOES NOT HAVE PMI INSURANCE IT HAS MIP INSURANCE. ALL LOANS REQUIRE THE INSURANCE FOR AT LEAST 5 YEARS.MAYBE ELIMINATED AFTER 5 YEARS AT 78% LTV. MIP INSURANCE IS TAX DEDUCT. JOHN SCHLOBOHM 914-433-4646

FHA requires you to carry PMI for a minimum of 5 years. However, the monthly PMI will vary depending on LTV and term of the mortgage. A 15 year mortgage does not require PMI.