For FHA, Loans Mortgage Insurances is needed because down payment is only 3.5%. Therefore the remaining loan requires Mortgage Insurance. Now, some of you are saying, "What is Mortgage Insurance and why do I need it?" "Mortgage insurance, is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. It can be either public or private depending upon the insurer. " What do you need to know? Coming October 4th, Upfront Mortgage Insurance Premiums cost is going DOWN from 2.25% to 1%!!! These are a … (4 comments)
HURRY FHA BUYERS! GUIDELINES ARE CHANGING 
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