Understanding FHA Mortgage Insurance Premium (MIP)

If your are in the market for an FHA Loan, Did you know that FHA Mortgage Insurance Premiums are required for the life of the loan? Watch this video to get a better understanding on FHA Mortgage Insurance Premium (MIP).

Learn what FHA Mortgage Insurance Premium means, and how it applies to your home buying purchase.

#DamienLGrant #MortgageInsurancePremiums #MIP #DLGLendingTeam

In This Video:
0:00 A Intro To Understanding FHA Mortgage
0:17 What Does Mortgage Insurance Protect
0:39 What is FHA MIP?
1:29 How do you Calculate MIP?
4:03 What is the Difference Between a FHA Loan and a Conventional loan
4:29 How To get Rid of MIP
5:17 Have Any Questions Contact us Now

〰️ Stay Connected With Me 〰️

[netzen]

Very informative. I just qualified for an fha loan and I was looking for my options regarding paying the upfront mip.

[Davion_savant]

What are some reasons that one might want to remove MIP, isn’t it insurance on the property/home ?

[thisandthat]

Got a question for you. My husband and I recently purchased an FHA home in my senior years, however I know I will not live long enough to pay off the debt.. So here is the question: how will my FHA mortgage insurance premium work upon death of spouse.