The Mortgage Buzz » Mortgage Insurance

FHA : Monthly Mortgage Insurance Premiums To Rise April 18, 2011

Steve Levitt — Fri, 04 Mar 2011 13:47:43 +0000

Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.

Understanding the FHA Mortgage Insurance Premium (MIP)

Steve Levitt — Sun, 28 Mar 2010 19:50:32 +0000

* Disclaimer – all information in this article is accurate as of the date this article was written *

The FHA Mortgage Insurance Premium is an important part of every FHA loan.

There are actually two types of Mortgage Insurance Premiums associated with FHA loans:

1. Up Front Mortgage Insurance Premium (UFMIP) [...]

Why Do I Need To Pay A VA Funding Fee?

Steve Levitt — Sun, 28 Mar 2010 18:24:45 +0000

The VA Funding Fee is an essential component of the VA home loan program, and is a requirement of any Veteran taking advantage of this zero down payment government loan program.

This fee ranges from 1.25% to 3.3% of the loan amount, depending upon the circumstances.

On a $150,000 loan that’s an additional $1,875 [...]

Why Do I Need Mortgage Insurance?

Steve Levitt — Sun, 28 Mar 2010 18:22:24 +0000

Mortgage Insurance, sometimes referred to as Private Mortgage Insurance, is required by lenders on conventional home loans if the borrower is financing more than 80% Loan-To-Value.

According to Wikipedia:

Private Mortgage Insurance (PMI) is insurance payable to a lender or trustee for a pool of securities that may be required when [...]

Separating FHA Fact From Fiction : Mortgage Insurance Premiums

Steve Levitt — Wed, 10 Feb 2010 13:46:11 +0000

Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what's coming next. Recently, we saw this with respect to FHA home loans.