In addition to the UFMIP (up-front mortgage insurance premium), the owner-occupant borrower who decides to use an FHA mortgage loan will normally pay an additional annual mortgage insurance premium...


In addition to the UFMIP (up-front mortgage insurance premium), the owner-occupant borrower who decides to use an FHA<br>mortgage loan will normally pay an additional annual mortgage insurance premium (MIP) that depends on the loan-to-value ratio and<br>the term of the loan. For loans with maturity longer than fifteen years and a loan to value ratio that is greater than 95%, the MIP will<br>be what percentage of the average annual loan balance?<br>Multiple Choice<br>0.25%<br>0.50%<br>1.10%<br>0.85%<br>

Extracted text: In addition to the UFMIP (up-front mortgage insurance premium), the owner-occupant borrower who decides to use an FHA mortgage loan will normally pay an additional annual mortgage insurance premium (MIP) that depends on the loan-to-value ratio and the term of the loan. For loans with maturity longer than fifteen years and a loan to value ratio that is greater than 95%, the MIP will be what percentage of the average annual loan balance? Multiple Choice 0.25% 0.50% 1.10% 0.85%

Jun 08, 2022
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