Comments on: FHA home loans, is mortgage insurance mandatory?

By: Bill H

Bill H — Sat, 03 Oct 2009 10:22:58 +0000

CYRUS

You can easily check your quotes in internet, for example here – home.bebto.com

By: HIGH SHAMAN

HIGH SHAMAN — Wed, 30 Sep 2009 07:22:47 +0000

MARION

On an FHA loan ; the Mortgage Insurance is definately REQUIRED .

By: Shawnta M

Shawnta M — Mon, 28 Sep 2009 01:38:53 +0000

JOHNIE

With FHA, the government insures the mortgage.
So, unfortunately, all FHA loans require the mortgage insurance as a stipulation to being financed.

If you have a 700 plus credit score, you can put 20% down on a conventional loan and save yourself from paying the mortgage insurance.

By: versantly

versantly — Fri, 25 Sep 2009 12:25:47 +0000

JORDAN

it is very important that you discuss everything in detail with your mortgage lender and that you understand completely the forms you sign. talk to a real estate attorney if you have any questions.

By: A D

A D — Thu, 24 Sep 2009 22:05:01 +0000

AARON

I believe the rules about MIP on FHA loans have changed and it can be dropped after 5 years.

You should check with a lender who offers FHA loans (and who doesn’t nowadays?).

By: Brown Sugar

Brown Sugar — Mon, 21 Sep 2009 18:01:26 +0000

FERDINAND

as far as i know you will have to pay mortgage insurance until the house note is paid in full. the reason for the insurance is to protect the lender in the event that you cannot pay.