This is a VERY GOOD question: With Now Permanent Mortgage Insurance, Is FHA Financing The Right Choice For Your Home Purchase?
After you’ve paid your loan balance down to 20% to 25% equity in your home, are you going to still want to pay that extra $150 to $250/month on FHA mortgage insurance? Think you can just refinance your way out of an FHA loan you obtain today later on? What if your FHA rate in 2013 is 3.5% and in 2018, just 5 years later, it’s 7%. Would you want to refi? Not Likely! Food For Thought!
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