Jeremy Drobeck ~ (269) 488-9494 ~ Apply Now ~ Contact Us

Friday, 10 October 2014 00:00

Mortgage Insurance Comparison

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I was going over loan options with a home buyer the other day and realized that we spend a lot of time talking about mortgage insurance and when comparing loan programs for people the cost of the PMI really comes into play.  When I sat down to make this video I was simply going to go over the basic options and the costs associated with each.  The video turned into more of a why not to get a FHA loan, which wasn't my intent.  However, the numbers don't lie FHA is the most expensive loan out there right now.  Its the new "subprime"  funny that the government loan program who's mission statement reads: "HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all . . . " is the most costly of all the home financing options.  Anyways, we close tons of FHA loans and it is often the only option for people wanting to buy now; so enough said.  The chart outlines the basic's reach out to me anytime with questions.