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Updated over 4 years ago on . Most recent reply

Denis Moreira's profile image
Denis Moreira's profile image
Denis Moreira
  • from Miami, Florida
  • Member since Apr 9, 2017
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User Stats

14
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3
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Denis Moreira's profile image
Denis Moreira's profile image
Denis Moreira
  • from Miami, Florida
  • Member since Apr 9, 2017
Connect
Denis Moreira
  • Miami, FL
3
Votes |
14
Posts
Buying & Selling Real Estate

FHA Monthly PMI + Upfront Mortgage insurance fee

Denis Moreira
  • Miami, FL
Posted

Hi,

I received this information from my lender today in regards to an FHA loan.

"With 5% down on a 400k property you are looking at an upfront MI of $6,650 ( onetime fee for FHA), which can be included in loan amount and a monthly payment of $251.21 at .80%"

Is this accurate? I thought it was one or the other. 

Thanks for your input!

-Denis

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