- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: PMI bullshite
Posted on 11/15/12 at 10:54 am to Franktowntiger7
Posted on 11/15/12 at 10:54 am to Franktowntiger7
quote:
I thought it was appraised value.
Everything is based off the lesser of the appraisal or sales price. This figure is the value.
1
Posted on 11/15/12 at 2:32 pm to MikeBRLA
First of all, you can't turn around and refi. There is a 12 month waiting period for you to use appraised value.
Some lenders let you do up front MI (UFMI). This is a percentage of your loan. You can pay it in cash or finance it back into the loan. It would be somewhere around 1.25% depending on LTV and credit score. You would not have any monthly MI if you choose this.
Some lenders also have a 2nd mortgage option. This is the 80/10/10. Not all lenders do this.
Some lenders let you do up front MI (UFMI). This is a percentage of your loan. You can pay it in cash or finance it back into the loan. It would be somewhere around 1.25% depending on LTV and credit score. You would not have any monthly MI if you choose this.
Some lenders also have a 2nd mortgage option. This is the 80/10/10. Not all lenders do this.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News