Sunday, April 30th 2017

Question

What is pmi mip funding fee?

Interesting Question?   (4)   (9)



Answers (2)

19th May 2012 by rebecca - United States Specific

Do I get any of this money back towards the loan if the mortgage is paid off or does the PMI/MIP lower after a few years? also how does this cover me?

Like This Answer?   (4)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
19th Nov 2009 by Burt Carlson

PMI stands for Private Mortgage Insurance. This is insurance that a mortgage lender gets to insure itself in part from a loss on a loan. MIP is Mortgage Insurance Premium and is the cost of the insurance. On an FHA home loan the borrower is required to pay an up front payment based on a certain percentage of the loan amount. This is called the Up Front Mortgage Insurance Premium (UFMIP) and is included in the costs of an FHA loan. FHA also requires that a borrower pay a certain percentage of the loan amount monthly toward mortgage insurance. These dollars go into a pool to offset future losses that FHA may have on its loan portfolio.

Like This Answer?   (5)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com



17th Nov 2009 In Finance 2 Answers | 3736 Views
Subjects: pmi mip funding,

Answer This Question / Give Your Opinion
What is pmi mip funding fee?


Answer: *

What country is this answer relevent to? *
Your Name: *

Enter Verification Number: *


Give Your Opinion
What are the different types of KeyBank credit cards?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
What are the different types of KeyBank credit cards?
Unanswered Questions in Finance
What is loan syndication?
Does paying off a car loan help your credit?
What is a good loan?
What is an underwater Mortgage?
What is a motor finance loan?

Answered Questions in Finance
debt consolidation what is it?
What is capital funding?
What does it mean to finance a car?
What you need to refinance?
What credit score is needed to refinance?
Ask A Question
Get opinions on what you want to know:
Specific to any country?