Posts Tagged ‘FHA CHANGES TO MORTGAGE PREMIUM INSURANCE’

Will I have to pay PMI forever?

Monday, June 22nd, 2015

The majority of homeowners when purchasing a house will hear the term “PMI”. “PMI” is private mortgage insurance. Homeowners purchasing a house with less than 20 percent down will most likely have to buy private mortgage insurance — PMI. The purpose of this insurance is to cover the lender in case you default, and it […]

UPCOMING FHA CHANGES TO MORTGAGE PREMIUM INSURANCE ON LOANS

Sunday, February 10th, 2013

Upcoming FHA Changes will reduce the amount of money that a borrower will qualify for. The table below Compliments of Vangie Villamil of VanDyk Mortgage, lays out the cost factors of what monies will cost you now and later when the changes take place. On a $275,000 loan the difference will be $22.12 a month […]