Comments on: Today’s Mortgage Rates: Which home loan is best?

By: smmiller777

smmiller777 — Sun, 31 May 2009 21:09:43 +0000

I am a mortgage underwriter and PMI is for conentional loans only. FHA loans have MIP. This is not new. No, mortgage insurance is not required on a conventional loan when 20% is down. If less than 20% PMI is required. The 3% loan he speaks of is now 3.5% now in todays market is an FHA loan. Most folks that do not speak on that type of loan is not approved to do FHA loans. Not too many companies do 2nd liens any more. The lender is the best loan to do because the fees are less.

By: friedmanrc

friedmanrc — Sat, 23 May 2009 23:55:22 +0000

Mmmmm, that doesn’t make sence. I work for Bank of America, and the normal customer is required to put down 20% to not pay PMI. You don’t need to pay PMI, unless you have less than 20% equity in your home. Please talk to me if you have any other questions

By: friedmanrc

friedmanrc — Sat, 23 May 2009 23:52:09 +0000

I work for Bank of America. We do many different scenrios for our customers. I will always give many different product scenrios based on my customer’s information. You really don’t know what your talking about.

By: LtStarkiller

LtStarkiller — Thu, 30 Apr 2009 07:06:32 +0000

You are now required to have a PMI on a FHA loan for it’s lifetime? Even with putting 20% down? When did this happen?

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By: mannyfeseha

mannyfeseha — Tue, 06 Jan 2009 04:27:22 +0000

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By: DrewDownsManagement

DrewDownsManagement — Sat, 03 Jan 2009 17:38:09 +0000

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