Posted on: 26th Jul, 2009 05:21 pm
I am a first time hoem buyer.
If I can do 15% down, do I still need PMI and if yes, then whats the percentage
If I do FHA, do I still pay MIP after makign 15% down payment?
Thank you
If I can do 15% down, do I still need PMI and if yes, then whats the percentage
If I do FHA, do I still pay MIP after makign 15% down payment?
Thank you
yes, to each of your questions. the percentage on pmi is dependent upon your credit score. fha is a known commodity in that respect, with no changes based on credit score.
in either case you'll have to bring your loan to value ratio below 80% to eliminate the mortgage insurance.
in either case you'll have to bring your loan to value ratio below 80% to eliminate the mortgage insurance.
I have very good credit score.
Alomost clsoe to 800. Averaring 780.
If I make 15% down payment, Shoudl I go for a FHA or am I qualified for coventional loan.
If FHA - Will I pay MIP (1.75%)
If conventional - What woudl be % of PMI.
I am lookign to buy somethign in the range of 650
Alomost clsoe to 800. Averaring 780.
If I make 15% down payment, Shoudl I go for a FHA or am I qualified for coventional loan.
If FHA - Will I pay MIP (1.75%)
If conventional - What woudl be % of PMI.
I am lookign to buy somethign in the range of 650
Who are you?
Thank you
I am still waiting for some oen to give me soem answer for my question please
I am still waiting for some oen to give me soem answer for my question please
there are so many variables in calculating mortgage insurance these days - each company has specific do's and don't's, and location, income, other indebtedness, cash availability - all these make a difference.
i don't have a market locally for loans of the size you noted, so have no expertise with them.
oh...i was addressing conventional loans. as for fha, where you are is vital, as loan limits for fha loans are determined by county.
i don't have a market locally for loans of the size you noted, so have no expertise with them.
oh...i was addressing conventional loans. as for fha, where you are is vital, as loan limits for fha loans are determined by county.
Thank you forum and apprecite all your responses