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celloshred
1914 Posts |
 Posted - 04/28/2008 : 3:39:58 PM
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UFMI is 1.5% all paid up front or is .75% paid upfront?
Any other fees?
Thank you. |
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BB
989 Posts |
Posted - 04/28/2008 : 3:41:35 PM
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| 1.5% upfront and .5% annual unless 90% 15 year loan then only 1.5% upfront. Check each lender for their fees. |
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ladysammm
356 Posts |
Posted - 04/28/2008 : 4:15:00 PM
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4000.2 REV-3
05/04 1-11
Chart 2A
REFERENCE CHART FOR UPFRONT AND ANNUAL MIP FOR MORTGAGES
WITH TERMS MORE THAN 15 YEARS Upfront LTV Ratio Premium Years 1.50% All LTVs .50% *
*Years will be determined when the loan balance equals 78%, provided the borrower has
paid the annual MIP for at least 5 years (scheduled or actual).
Chart 2B
REFERENCE CHART FOR UPFRONT AND ANNUAL MIP FOR MORTGAGES
WITH TERMS 15 YEARS AND LESS
Upfront LTV Ratio Premium Years
1.50% 89.99 and under None N/A
1.50% 90.00 and over .25% **
** Years will be determined when the loan balance equals 78% (scheduled or actual).
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