Eliminate FHA Mortgage Insurance

FHA financing is a great option for Phoenix area home-buyers.   It offers a low down payment along with a competitive mortgage rate.   FHA also requires that homeowners pay something called mortgage insurance.   Each FHA homeowner pays mortgage insurance in both of the following ways: 1.Up Front FHA Mortgage Insurance Premium  (UFMIP) UFMIP is paid in the form of a one time/up front premium that is added to/financed into the home buyer's FHA loan amount at closing 2. Monthly FHA Mortgage … [Read more...]