What is the FHA mortgage insurance premium?

Answer The FHA mortgage insurance premium is a cost imposed on borrowers who take out FHA mortgages. FHA mortgage insurance functions similarly to private mortgage insurance.Two CostsThe FHA charges two m... Read More »

Top Q&A For: What is the FHA mortgage insurance premium

What is a mortgage insurance premium?

A mortgage insurance premium is the equivalent of private mortgage insurance for Federal Housing Administration (FHA) loans.FHA LoansThe FHA guarantees mortgages. This means that the agency will re... Read More »

What is an upfront mortgage insurance premium?

Borrowers taking out an FHA mortgage must pay an upfront mortgage insurance premium to pay for the backing of the Federal Housing Administration. This cost equals 2.25 percent of the mortgage as of... Read More »

The FHA Mortgage Insurance Premium Refund Process?

If a home buyer qualifies for a Federal Housing Administration (FHA) home loan, the administration insures payment on the loan even if the buyer defaults. Therefore, the FHA requires the borrower t... Read More »

Can a Bank Require Mortgage Insurance on a VA Mortgage?

Private mortgage insurance is a type of insurance product that most homeowners are forced to purchase in order to protect their lender. This insurance coverage is required in case the borrower goes... Read More »