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bramous
963 Posts |
 Posted - 01/30/2008 : 10:46:14 AM
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I tried to find some of the answers on search, but since the Hack, things are not working. I have several questions...if anyone can help, I would appreciate it.
1) Do you charge the 1.5% MIP on the new loan
2) If yes to #1-does borrower get refund on MIP from original loan? How much? How is it calculated?
3) Is MI still .50% monthly? Does the 60 month term reset on a streamline?(i.e. if 2 years into original loan, with a streamline do they pay MI for 3 more years, or 5?)
Any help would be greatly appreciated, as well as any tips that some of you FHA gurus may have on this. |
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MisterVA
6550 Posts |
Posted - 01/30/2008 : 10:57:15 AM
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1. yes
2. yes--I believe it is now on a 36 month schedule to determine the refeund.
3. yes--60 months on the 30 year term at that rate.
There is a worksheet to help with this calculation. |
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RodneyLO
821 Posts |
Posted - 01/30/2008 : 11:07:06 AM
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Bump.
This is why I was fussing about the Advanced Search yesterday!
Also, what is the time frame to not be considered "churning"? |
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