Home Loan Programs

Home loan news, updates, and strategies related to different home loan programs and all things related to home loan programs.

Understanding FHA Mortgage Insurance Premium (MIP)

Home Loan Programs / By Joshua Lerette

FHA Mortgage Insurance Premium (MIP) is an important part of FHA Insured loan. Mortgage insurance is insurance that protects lenders against any losses that may result from a consumer defaulting on their FHA-insured home loan. FHA home loans require two types of Mortgage Insurance Premiums for all borrowers, regardless of down payment. The two types …

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Why Do I Need To Pay A VA Funding Fee?

Home Loan Programs / By Joshua Lerette

The VA Funding Fee is an essential component of VA loans and is a requirement of any Veteran taking advantage of this zero down payment government loan program unless deemed disabled by the military. 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 …

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