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Conventional or FHA Loans In Phoenix

October 31, 2013 by · Leave a Comment

How does one decide between a FHA loan or Conventional loan?  In a nutshell, if you can qualify for a Conventional loan, go for it.  Conventional loans are harder to qualify for but well worth it. The main reason for this rational is the Mortgage Insurance associated with a FHA loan. Mortgage insurance  is an […]

Understanding the FHA Mortgage Insurance Premium (MIP)

October 30, 2010 by · Leave a Comment

* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1.  Up Front Mortgage Insurance Premium (UFMIP) – financed into […]

Why Do I Need To Pay A VA Funding Fee?

March 28, 2010 by · Leave a Comment

The VA Funding Fee is an essential component of the VA home loan program, and is a requirement of any Veteran taking advantage of this zero down payment government loan program. This fee ranges from 1.25% to 3.3% of the loan amount, depending upon the circumstances. On a $150,000 loan that’s an additional $1,875 to […]