FHA MI at 40%LTV

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royblake

356 Posts

Posted - 05/20/2008 : 3:48:00 PM

I just need reassuranc on this.

Currently in a Conv, doing a C/O refi, 40% LTV, Approve/eligible.

But I need help on the MI. I believe that no matter what 78%/5 years. Is this right? IF so I will just put them in a convention, cause it wouldn't make sense to go FHA.

Thanks

jpar994

885 Posts

Posted - 05/20/2008 : 3:55:24 PM

Unless you do a 15year mortgage for them you will always have the MI on FHA

Do them right and get them in a coventional!

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