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Tagged with: pmi
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David Cash
a day ago
I am trying to eliminate the PMI. My loan is 599,000 while the value of the home is over 1 million. The loan was started in April 2012. Can I eliminate PMI? If so, what steps do I need to take?
I am trying to eliminate the PMI. My loan is 599,000 while the value of the home is over 1 million. The loan was started in April 2012. Can I eliminate PMI? If so, what steps do I need to take?
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REFINANCING A PRIMARY HOME TO 15 YEAR, FIX RATE WITH RATIO VALUE, 60%, DO I HAVE TO PAY PMI?, IF THE RATIO REACH 90% IN 5 YEARS, CAN THE PMI REMOVED?. WHY WE NEED TO WAIT 11 YEARS?. HOW WE CAN REMOVE IT?
REFINANCING A PRIMARY HOME TO 15 YEAR, FIX RATE WITH RATIO VALUE, 60%, DO I HAVE TO PAY PMI?, IF THE RATIO REACH 90% IN 5 YEARS, CAN THE PMI REMOVED?. WHY WE NEED TO WAIT 11 YEARS?. HOW WE CAN REMOVE IT?
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Joy Caudill
2 months ago
After 2013 as long as the LTV is high enough there is still an 11 year MIP. Is the LTV based on the loan amount calculated against the purchase price or the appraisal price? If qualified with a good enough LTV the annual MIP for 11 years is 80 bps (0.80%). Is this calculated on the original loan amount always or is it adjusted yearly based on the current principal balance? Basically, If I pay extra to reduce my principal will it lower my MIP yearly?
After 2013 as long as the LTV is high enough there is still an 11 year MIP. Is the LTV based on the loan amount calculated against the purchase price or the appraisal price? If qualified with a good enough LTV the annual MIP for 11 years is 80 bps... (more)
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Juan Castillo
3 months ago
Loan origination date July 2009, loan amount 154,000, currently owe 129,000. Zillow appraisal estimate is 179,000. I have not done an appraisal yet though.
Loan origination date July 2009, loan amount 154,000, currently owe 129,000. Zillow appraisal estimate is 179,000. I have not done an appraisal yet though.
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william sanford
3 months ago
I ask because if my loan is under 20 percent I will have to pay PMI. Will this be the case for the entire loan or until I have paid 20 percent of the loan value?
I ask because if my loan is under 20 percent I will have to pay PMI. Will this be the case for the entire loan or until I have paid 20 percent of the loan value?
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James Hester
4 months ago
Hi, I could not qualify for a conventional due to a rental that we had to let go 4 years ago.

We purchased a house for 415K and put down 138K for an FHA loan of 277k. I am being charged an MIP even though my loan to value is less than 80%. Should I be charged this?

If I am supposed to pay it, if I pay my loan down 20% will it go away then?

Thank you for any help
Hi, I could not qualify for a conventional due to a rental that we had to let go 4 years ago.

We purchased a house for 415K and put down 138K for an FHA loan of 277k. I am being charged an MIP even though my loan to value is less than 80%. Should I... (more)
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Melissa Bickman
5 months ago
I originated my FHA loan June 1 2012. I would like to remove PMI as the value has increased. What are the requirements to remove the MIP for this loan?
I originated my FHA loan June 1 2012. I would like to remove PMI as the value has increased. What are the requirements to remove the MIP for this loan?
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MAUD MCKINNON
5 months ago
My loan is less than 3 years old and I have never been late on a payment(most of the time I pay two weeks in advance). My credit score is good. It will only save me $100 a month.
If the rates have changed why not give mortgage owners the break without the extra cost?
My loan is less than 3 years old and I have never been late on a payment(most of the time I pay two weeks in advance). My credit score is good. It will only save me $100 a month.
If the rates have changed why not give mortgage owners the break... (more)
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Neil Petrocelli
6 months ago
Basically my home is valued at $405K, After closing costs and around 10K cash out, I will be borrowing around $345K. If the value of my home increases whereby my LTV goes to around 75-77%, can't I get the PMI waved? The company said no? Is this true?
Basically my home is valued at $405K, After closing costs and around 10K cash out, I will be borrowing around $345K. If the value of my home increases whereby my LTV goes to around 75-77%, can't I get the PMI waved? The company said no? Is this... (more)
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Mark Cobb
7 months ago
It is my understanding that one can eliminate the PMI after being with the loan for five years if LTV reached 78%. That occurs this Sept. If I need to pay down mortgage a little to get to 78% is that allowed? My mortgagee is telling me I must wait until the normal 30 year amortization reaches the 78%. Doesn't make sense to me.
It is my understanding that one can eliminate the PMI after being with the loan for five years if LTV reached 78%. That occurs this Sept. If I need to pay down mortgage a little to get to 78% is that allowed? My mortgagee is telling me I must wait... (more)
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