All Posts Tagged With: "MIP"
How Do We Get Rid of the FHA Mortgage Insurance Premium?
Question: I bought a home with FHA financing. We have a monthly insurance premium (MIP) with each payment. How do we get rid of this cost? Answer: When you bought your home you purchased with little money up front, perhaps 3.5 percent down. This means a lender put up as much as 96.5 percent of [...]
20Oct2008 | Peter G. Miller | 2 comments | Continued
Should FHA Billions Be Refunded?
Here’s a problem we’d all like to have: FHA has more than $16 billion in surplus funds, including an excess $5 billion collected in just the past year from FHA borrowers. This would be great news if FHA were a private company, but it isn’t and so we need to figure out who should get [...]
6Sep2008 | Peter G. Miller | 0 comments | Continued
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