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Tagged with: mortgage insurance
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Tom Demchak
4 months ago
My daughter refinanced last year through Quicken which required mortgage insurance - she has been informed that she needs to pay for 11 years regardless of price to value ratio even going below 75%. Besides refi, what options does she have to eliminate the PMI if due to house value increases and paying off loan she gets below 75%
My daughter refinanced last year through Quicken which required mortgage insurance - she has been informed that she needs to pay for 11 years regardless of price to value ratio even going below 75%. Besides refi, what options does she have to... (more)
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blueth 1559
4 months ago
At the time, my LTV at the time was 85%, so I needed to pay MIP insurance. As of right now, my Loan to Balance is at 73% & LTV is at 59%. Am I entitled to a refund on my loan to balance since it is lower than the 75% threshold or do I still have to pay until I complete my 5 yr term.
At the time, my LTV at the time was 85%, so I needed to pay MIP insurance. As of right now, my Loan to Balance is at 73% & LTV is at 59%. Am I entitled to a refund on my loan to balance since it is lower than the 75% threshold or do I still have... (more)
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Joseph Fajardo
6 months ago
I need to refinance because the interest will go up in 5 years from now. The interest rate I am getting is a little higher than what I have now, but it's better to refinance. The principle balance is $210,200 and the house value at $313,000. I have a problem with the mortgage insurance. I don't think I should have to pay for insurance when my house has $100,000 in equity.
I need to refinance because the interest will go up in 5 years from now. The interest rate I am getting is a little higher than what I have now, but it's better to refinance. The principle balance is $210,200 and the house value at $313,000. I... (more)
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Carla Palmer
6 months ago
My loan originated in 2005 and I have paid MIP for 12 years now. My home value, per taxes, is way more than my original loan amount and I owe about 79% of the original loan value.

How much longer do I have to pay the MIP?
My loan originated in 2005 and I have paid MIP for 12 years now. My home value, per taxes, is way more than my original loan amount and I owe about 79% of the original loan value.

How much longer do I have to pay the MIP?
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A Curious User
8 months ago
I refinanced my FHA loan. How do I get my MIP back from the FHA loan that is paid off?
I refinanced my FHA loan. How do I get my MIP back from the FHA loan that is paid off?
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A Curious User
9 months ago
My FHA loan was originated in April 2013 and it is likely that my home's current value drops the ratio of the outstanding loan balance/current appraised value below the 78% threshold to eliminate MIP. Is it possible to remove MIP if this is the case?
My FHA loan was originated in April 2013 and it is likely that my home's current value drops the ratio of the outstanding loan balance/current appraised value below the 78% threshold to eliminate MIP. Is it possible to remove MIP if this is the... (more)
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254
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Rashmi Varadarajan
10 months ago
My initial loan payment was 225,000 USD which I applied for in 2009. I refinanced it for 3.75 % in 2012 and am currently paying 176.50 USD as MIP per month. My house prices have gone down and is currently valued at 211,000 USD. Please advise on when I can get rid of the MIP. Does it make sense for me to refinance to a conventional loan and pay off the PMI faster.
I would really appreciate a quick response. Thanks.
My initial loan payment was 225,000 USD which I applied for in 2009. I refinanced it for 3.75 % in 2012 and am currently paying 176.50 USD as MIP per month. My house prices have gone down and is currently valued at 211,000 USD. Please advise on when... (more)
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ivy time
a year ago
I made my May mortgage payment and my loan was paid off on June 1st when I refinanced it. Since MIP is paid in arrears, (and my May payment covered the MIP for April), I only expected to be charged the MIP for May. My payoff statement, however, includes two months of MIP, as the lender states the MIP is owed for May AND June, since the loan was still "active" in June. Is this correct? It doesn't seem right to pay for insurance when there is nothing to insure, as the loan was paid off, and the June premium is not due until July. Please advise.
I made my May mortgage payment and my loan was paid off on June 1st when I refinanced it. Since MIP is paid in arrears, (and my May payment covered the MIP for April), I only expected to be charged the MIP for May. My payoff statement, however,... (more)
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Gary Bowers
a year ago
My new loan will still have Mortgage insurance on it on it and requires the MPI be paid one year up front.
Do I get a refund from existing loan for the balance of the MPI in existing loan ?
My new loan will still have Mortgage insurance on it on it and requires the MPI be paid one year up front.
Do I get a refund from existing loan for the balance of the MPI in existing loan ?
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