HomeGain on Facebook HomeGain on Twitter HomeGain on LinkedIn HomeGain on YouTube

For the fha mortgage insurance i'm told i'm going to pay 1.3% every month??

I know there has got to be a mistake because in my case that's well over $2000 for pmi every month alone!
By lancastero786463 from UT Oct 15th 2014
Powered by:

If you are under 95% loan to value, the factor you use is 1.3%. But, it is annually. So take your loan amount & multiply it by 1.3% and then divide that by 12. That will give you your monthly mortgage insurance for FHA. If I can be of any further assistance, feel free to call or email me.Brandon Brady | 801.716.5241 | b.brady@crmtg.bizChristian Roberts Mortgage Murray, UT

Oct 15th 2014

Searching Today's Rates...


The calculation is done annually. For the specified loan to value the calculation is 1.3% a year. In order to calculate the monthly amount you must first determine what 1.3% of your mortgage amount is. Then divide this amount by 12(12 payments a year). This will tell you exactly how much mortgage insurance you are required to pay monthly.

Oct 15th 2014


HomeGain offers free real estate tools and services to compare real estate agents, research home prices, and view homes for sale, foreclosures, new homes, and rentals. HomeGain provides real estate information including articles on home buying, home selling, and mortgage rates. HomeGain's quarterly home values surveys are a hit with the top media sources, realtors, and home buyers and sellers. Did you know, HomeGain pioneered the original online home value estimates tool back in 1999?