– Mortgage insurance comes in two basic kinds with nearly similar initials: Private Mortgage Insurance, also known as PMI or Mortgage Insurance Premium, also known as MIP. While the MIP is a must , there a couple of ways you can avoid the PMI – We’ve summarized eveyrything you need to know:
How to Avoid MIP on an FHA Loan | Pocketsense – The borrower may avoid paying more MIP on the loan, regardless of how long they have made annual mip payments. avoid the MIP altogether by purchasing or refinancing with a loan term of 15 years or less at an LTV of 89.99 percent or less.
refinance 1st and 2nd mortgage Refinance When You Have A 2nd Mortgage – It’s not easy to refinance a second mortgage when you have a home equity loan or line of credit. HARP allows homeowners to refinance their mortgages, even when they owe more than their houses are worth. The program was revised recently to increase the number of borrowers who can participate.heloc calculator how much can i borrow How much money can I borrow calculator – Bankrate.com – The first step in buying a house is determining your budget. This mortgage calculator will show how much you can afford. Fill in the entry fields and click on the "View Report" button to see a.