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rondelu
299 Posts |
 Posted - 11/17/2007 : 09:13:27 AM
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I know that with MCM the MI is 20% coverage,(Category 1) for .59%, (Catrgory 3) for .97%
Question FHA the MIP is .50% period! No coverage amount for other adjustment correct?
Yes, I'm new to FHA.
Thanks
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MisterVA
8615 Posts |
Posted - 11/17/2007 : 09:21:50 AM
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| That is the monthly premium. An up front premium of 1.5% is charged as well. That amount may be financed. Monthly premium is .25% for 15 year loans. |
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rondelu
299 Posts |
Posted - 11/17/2007 : 09:28:07 AM
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| Thanks, I just needed to make sure I got it right... |
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