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Apr
20
The preponderance of home buyers in today's market who do not have a 20% down payment to buy a
 home are obtaining an FHA insured loan. Also many home buyers, specifically, those having a FICO score of 720 or higher could have spent less money by getting a conventional mortgage and private mortgage insurance (PMI). Especially now sense the FHA is raising their costs for a second time in under six months,
While most often it's the job of the loan officer to know their way around mortgage lending, and with today's market
turmoil while the FHA is taking additional steps to cut down on the volume of mortgages they insure, it becomes important for buyers to comprehend two basic premises about private mortgage insurance. For example,
beginning April 18th, PMI can:
Apr 13, 2011
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