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
Do you need cash out of your home, but you don’t want to refinance the…
I wanted to address the two most common questions that I get regarding reverse mortgages……
Do you need cash out of your home, but you don’t want to refinance the…
Would you like to get cash out of your home, but you don't want to…
If you need cash out of your house, but don't want to touch your first…
I wanted to address the two most common questions that I get regarding reverse mortgages……