Removing MIP from FHA Loans is one of the happiest moments for most borrowers in FHA Loans. However, I am continually asked by loan officers how and when these payments end. The misunderstanding of this is almost pandemic.
Mortgage Insurance Premiums on FHA Loans are not the same as Private Mortgage Insurance on conventional loans. Additionally, they differ in how and when they are removed from the loan. For those of you that have questions about how and when MIP does come off FHA Loans, please CLICK HERE to get more information.
No comments:
Post a Comment