02-17-2013 09:28 AM
02-17-2013 09:30 AM
02-17-2013 09:36 AM
LPMI is lender paid mortgage insurance.
You can either pay an upfront fee or no fee but you take a hit on your interest rate.
This is one of the cool things about doing a conventional mortgage, you just pay the fee upfront and its done.
I think the fee is somewhere around 2 percent of the loan. So a 350k mortgage it would be a 7000 upfront fee. It is a good deal.
02-17-2013 09:44 AM