Realtors,
Do you know how to calculate FHA Monthly MIP?
If you have a client looking to purchase a home using an FHA 30 fixed loan with 3.5% down your FHA Monthly MIP factor is 1.15%.
Here is how you calculate your FHA Monthly MIP. - Purchase price $100,000 - 3.5% down-payment - 96.5% Loan amount – $100,000 * .965 = $96,500 - $96,5* MI Factor of .0115 = $1,109.95 / 12 months = Monthly MIP of 92.48.
I truly believe that by helping your build your business, - I build my business - TOGETHER WE BOTH SUCCED!
We offer Conventional, FHA, Reverse, USDA, and VA Mortgages.
If you are looking for a Loan Officer who is full of fun,
Who is willing to work hard to get the job done,
Then I’M THE ONE
When you think mortgage,
think Josh,
Mortgage Josh,
Your Friend in the Mortgage Business!
251 382 3729 cell – Josh@MortgageJosh.com – www.MortgageJosh.com. – Josh Aaron NMLS: 213887 – NFM, Inc 1535 S Schillinger Road, Mobile, AL 36695 – Equal Housing Lender.
How Lemeridian funding service grant me a loan!!!
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