Saturday, September 22, 2018
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Private Mortgage Insurance vs. FHA Mortgage Insurance

Although the insurance protection concept is similar, there are differences between private mortgage insurance and FHA mortgage insurance. FHA insurance is a government-administered mortgage insurance program that does have certain restrictions. FHA has maximum regional loan limits that are lower than those with private mortgage insurance. FHA may be more expensive, take longer to receive approval, and have fewer payment plan options. FHA insurance lasts for the life of the loan, unlike private mortgage insurance which is cancelable in most circumstances. FHA is a good choice for some borrowers with credit history problems that might need special assistance.

Discount Mortgage
Office (888)360-3337 | Cell (408)316-5454
Real Estate Broker, California Department of Real Estate 9162270931
Bkr. Lic #01098186 [SIC code=6162 DUN #93-794-6796] NMLS# 314249

Discount Mortgage
Office (888)360-3337 | Cell (408)316-5454
Real Estate Broker, California Department of Real Estate 9162270931
Bkr. Lic #01098186 [SIC code=6162 DUN #93-794-6796] NMLS# 314249