Tuesday, January 17, 2012

I applied for a fha loan. I was approved and received my du packet today with fee explanations.?

The one I do not understand is upfront mortgage insurance pmi. What is that? I know they did tell me that I have to pay pmi monthly but now I have to pay 1.75% of the loan and that amount is going to be added to the loan. Can someone explain please?

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