Yes. Not all loans will "comply" with FHA standards.
2 Answers · Business & Finance · 02/02/2013
Mortgage protection insurance is CRAP COVERAGE. It's effectively decreasing term life insurance - costs WAY more than regular life insurance, AND the benefit goes down as the policy goes on, but you still pay the same...
5 Answers · Business & Finance · 21/11/2012
You have a loan that was signed before July,1999 so it is not subject to the new PMI laws. There is no requirement that the PMI be removed until you meet the terms outlined in your loan...
2 Answers · Business & Finance · 06/11/2012
9 Answers · Business & Finance · 06/02/2012
Because the mortgage company requires it. WHY do they require it? Because your monthly tax, insurance, and PMI are all being collected and set aside to pay for NEXT year's taxes and insurance. You don't get free...
9 Answers · Business & Finance · 04/01/2012
An FHA insured loan is a Federal Housing... normally financed by the lender and paid to FHA on the borrower's behalf. Depending on the loan-to-value...
5 Answers · Business & Finance · 02/01/2012
Your loan officer is misinformed. Loan companies like to have the entire value of their loan insured, but the policy is not written on the loan, On an HO-6 policy what is covered is the...
4 Answers · Business & Finance · 16/09/2011
You must have at least 20% equity to avoid this. Not sure what you read online Note: Once you get to 20% equity, it will be slightly hard to remove. We had to go over that amount, since we did not want to pay for the mortgage company to come by and reappraise our home
4 Answers · Business & Finance · 18/07/2011
Yes, as soon as the equity in the house hits 20%, then the PMI can be removed. Keep in mind, you'll have to request the lender to review it, and YOU will probably have to pay for the appraisal, if the mortgage has been in force less than five years.
3 Answers · Business & Finance · 21/06/2011