Tag: easy to understand

FHA Mortgage Insurance Premium Explained in Plain English – Yes, Even Your Teen Can Understand This

Are you considering purchasing a home? If so, chances are good that someone has mentioned FHA mortgages to you. An FHA loan is insured by the Federal Housing Administration (FHA) and guarantees payment from lenders in case of default through its MIP or Mortgage Insurance Premium program. This arrangement helps reduce risk for lenders while…

July 18, 2023
Demystifying FHA Mortgage Insurance Premiums for First-Time Homebuyers

As a first time homebuyer you may have come across the term “FHA mortgage insurance premium” or MIP. But what does it mean? And how exactly does it work? Don’t worry – I can help! Here is everything you need to know about FHAs mortgage insurance premiums explained in simple language that even someone with…

July 18, 2023

FHA Mortgage Insurance Premium Explained in Plain English – Yes, Even Your Teen Can Understand This