Understanding the FHA Mortgage Insurance Premium (MIP)

March 28, 2010 by · Leave a Comment

The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1.  Up Front Mortgage Insurance Premium (UFMIP) – financed into the total loan amount at the initial time of funding 2.  Monthly Mortgage Insurance Premium – paid monthly along […]

Should I Refinance or Get a HELOC For Home Improvements?

March 28, 2010 by · Leave a Comment

For homeowners interested in making some property improvements without tapping into their savings or investment accounts, the two main options are to either take out a Home Equity Line of Credit (HELOC), or do a cash-out refinance. According To Wikipedia: A home equity line of credit is a loan in which the lender agrees to […]