realestate
Real Estate

How Much of A Mortgage Loan Will FHA Finance?

Mon Apr 21, 2008 8:46 am
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The FHA (Federal Housing Administration) will finance 100% of the loan if you get an FHA loan. There would also be a Mortgage Insurance Premium (MIP) that would remain with the borrower for the life of the loan. This MIP is usually financed partially at closing and the remainder over the period of the loan, (the monthly payment).

Speak with your lender, (mortgage broker) and your attorney for advice prior to securing this type of financing.

If you need referral's for an attorney and lender you may want to ask your Realtor.



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