I’ve written to you about this before, but I think it’s worth covering again.
People ask me if it’s possible to get rid of FHA mortgage insurance.
It is possible, and here is how to do it…
On a 30 year FHA mortgage the annual mortgage insurance premium is canceled once the loan reaches 78% loan to value, and the loan is at least 5 years old.
On a 15 year FHA mortgage the annual mortgage insurance premium is canceled once the loan reaches 78%. The nice ting about the 15 year is that you don’t have to wait 5 years to get rid of – as long as your home gets to 78% ltv.
FHA removes this mortgage insurance automatically. The 78% loan to value is based on the lesser of your purchase price, or its original appraised value.
If you would like to see if you qualify for a mortgage right now – click here and fill out this simple and quick application.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
Texas renters are spending more than 30% of their incomes on rent. It can be…
If you are looking for a home in the outer suburbs or in a rural…
If you have credit card debt it’s smart to consider a consolidation loan. If you…
I wanted to let you know we have a 2% to 5% downpayment and closing…
Do you have investment property, and would like to pull cash out of your property?…
Texas renters are spending more than 30% of their incomes on rent. It can be…