Quote:
Originally Posted by elysiantraveller
Conventional only.
Once LTV hits 80% mortgage insurance can be removed via request. By law it falls off at 78%.
FHA (3.5% down) and USDA RD (0.0% down) it stays on the life of the loan or until you refinance into conventional. MI rates are fixed though at .85% and .35% respectively. Also have up front mortgage insurance premium which is wrapped into the loan at 1.75% and 1% again respectively.
|
Which the vast majority of borrowers do not know along with all the other tricks of the trade.
That is why I posted what I did.
You OK with that?