Posted on: 22nd Apr, 2013 08:23 am
Good Morning. If my loan to value is below 78% on a FHA loan, should I be charge an MIP service anywhere on my Good Faith Estimate?
Hi angel!
Welcome to the forums!
All FHA loans require a MIP irrespective of whatever down payment you pay or whatever loan to value ratio you have.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
All FHA loans require a MIP irrespective of whatever down payment you pay or whatever loan to value ratio you have.
Feel free to ask if you've further queries.
Sussane
Yes. If you have a 22% down payment, it'd be best to use a conforming mortgage program so you don't have to pay PMI.
