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PMI Question

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Llhg71
Established Member

PMI Question

Is the monthly PMI rate the same for conventional and FHA loans?  If not, does the PMI rate for conventional loans vary from bank to bank?

Message 1 of 3
2 REPLIES 2
JM-AM
Valued Contributor

Re: PMI Question

FhA MIP and Conv PMI are not calculated the same. Conv is lower.

It varies according to balance of loan not by how it is calculated.
Good Luck
May all your dreams and wishes become a reality!
Message 2 of 3
DallasLoanGuy
Super Contributor

Re: PMI Question

estimates vary from bank to bank.... because some loan officers are sloppy.

 

but pmi 'should' be the same across banks

 

Retired Lender
Message 3 of 3
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