Also, there is an Upfront Mortgage Insurance Premium, which is essentially non- refundable (used up quickly in the early stages of the loan). That premium is usually 1.75% of the loan amount, and goes directly to FHA to fund the mortgage …
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The Fiduciary Lender
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Tags: FHA, HUD FHA Refunds, insurance, insurance premium, mortgage, the-early, upfront, upfront-mortgage, usually-1-75
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Many states do not require the broker to provide the borrower with a fiduciary duty. Borrowers should speak with different brokers and lenders to find out what types of loans they can acquire. Borrowers need to be well informed about ...