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Mortgage Professor about No Money Down Home: | |||||||||||||||||||||||
Lies Mortgage Shoppers Hear
December 2, 2002, Revised July 16, 2004 "I am about to shop the market for the mortgage I need to finance my home purchase. Is there a danger that people won?t tell me the truth? Any lies I should look out for in particular ... more... Piggyback Loans: Two Mortgages Cost Less Than One? August 7, 2000 ?I can?t afford to put 20% down. My broker says it will cost less to take out a combination first and second mortgage, where the second would provide another 10% down, than to put 10% down on a first mortgage and ... more... |
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No Money Down Home related definitions |
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FHA Mortgage Insurance
FHA Mortgage Insurance It is insurance from FHA to the lender against incurring a loss on account of the borrower's default. Paid if FHA loan LTV is higher than 80%. Also known as MIP - Mortage Insurance Premium. By insuring the loan the Federal Government agrees to repay ... more... MIP, Mortgage Insurance Premium MIP, Mortgage Insurance Premium It is insurance from FHA to the lender against incurring a loss on account of the borrower's default. Paid if FHA loan LTV is higher than 80%. Also known as FHA Mortgage Insurance. By insuring the loan the Federal Government agrees to repay ... more... |
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