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re: Question About PMI/Home Buying (Update on pg 3)

Posted on 4/10/13 at 4:29 pm to novabill
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73163 posts
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Posted on 4/10/13 at 4:29 pm to novabill
quote:
The PMI is pretty high and just became permanent for the life of the loan.
no it didn't

that doesn't kick in until June and that is not for all FHA loans
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Posted by novabill
Crossville, TN
Member since Sep 2005
10464 posts
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Posted on 4/10/13 at 7:34 pm to Pilot Tiger
quote:
that doesn't kick in until June


You are correct, it is the increase in MIP that started April 1.

The life of the loan MI will be for most FHA loans, as most FHA loans have an LTV of > 90%

LINK
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