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Old 12-02-2017, 08:51 PM   #181
elysiantraveller
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...
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.
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Old 12-02-2017, 09:10 PM   #182
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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?
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Old 12-02-2017, 09:17 PM   #183
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[QUOTE=elysiantraveller;2247370]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 rat. es are fixed though at .85% and .35% respectivelyAlso have up front mortgage insurance premium which is wrapped into the loan at 1.75% and 1% again respectively.[/QUOTE]



Yet another way for banks to screw you.

Sounds like you are defending banks. Lol.
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Old 12-02-2017, 09:47 PM   #184
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[quote=Ruffian1;2247374]
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Originally Posted by elysiantraveller View Post
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 rat. es are fixed though at .85% and .35% respectivelyAlso have up front mortgage insurance premium which is wrapped into the loan at 1.75% and 1% again respectively.[/QUOTE]



Yet another way for banks to screw you.

Sounds like you are defending banks. Lol.
The lenders aren't keeping your mortgage insurance so I am not sure why the banks are the evil party.
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Old 12-02-2017, 11:04 PM   #185
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[quote=AndyC;2247382]
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The lenders aren't keeping your mortgage insurance so I am not sure why the banks are the evil party.
Correct.

Furthermore I'm not sure why I'm getting attacked. Just giving more in depth explanation... next I'll need my NMLS # or party registration to comment on here.

But I'm one of those evil bankers who explains all this stuff daily.
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Old 12-02-2017, 11:08 PM   #186
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.
HUD and the USDA collect those. As far as PMI those are insurance companies, UGIC, NMI, GMI are the big players.
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Old 12-03-2017, 10:23 AM   #187
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OK so I saw the new rates/deductions that both houses of congress have offered up. Wow. between the wife and I it'll save us about 5K in taxes. That's a hell of a nice xmas present. I don't know how much more of this winning I an take. Also. after looking at those one will find it is not lowering the rates for the rich. Only crumbs they get are the changes to the standard deduction. To us that is huge to them it'll be peanuts. So all that ranting by the left turned out to be a nothing burger once again
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Old 12-03-2017, 11:18 AM   #188
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So all that ranting by the left turned out to be a nothing burger once again
Some people don't like the idea that tax cuts only have a direct benefit for the 53% of people that pay taxes.
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Old 12-03-2017, 12:03 PM   #189
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Some people don't like the idea that tax cuts only have a direct benefit for the 53% of people that pay taxes.
What I don't like is that it narrows the tax base once again. When the majority of voters are not paying any income taxes the welfare state will be unstoppable.
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Old 12-03-2017, 12:34 PM   #190
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What I don't like is that it narrows the tax base once again. When the majority of voters are not paying any income taxes the welfare state will be unstoppable.
I agree. The problem is that taxes should be cut, but so should spending. But once a welfare program is in place, Congress views it as in entitlement, and even questioning it is political blasphemy.

The Democrat philosophy is that we don't have a spending problem, we have a "pay-for" problem. Too many Republicans claim to believe otherwise but lack the courage to do anything about it.
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Old 12-03-2017, 01:26 PM   #191
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Old 12-03-2017, 01:27 PM   #192
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Old 12-03-2017, 01:35 PM   #193
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Old 12-03-2017, 02:08 PM   #194
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Paul Krugman
This is the guy who thought that Obama walked on water when he and the Dems doubled the debt in 8 years, but GOP deficits are toxic.

Sorry, any economic analysis that has his name at the top is a non-starter.
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Old 12-03-2017, 02:12 PM   #195
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Try this: Republicans passed a tax bill which, according to their own analysis and all others, transfers trillions from the middle class and poor to rich people and corporations, while increasing our debt and limiting the government's ability to fund its programs.
Pot, meet kettle:

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