How to Remove Mortgage Insurance On an FHA Home Loan
In this video I go over the steps that it takes to have Mortgage Insurance Removed on an FHA Home Loan. Many people believe they have a low mortgage interest rate but they are still paying FHA Mortgage Insurance. To calculate your actual rate you will need to add your Mortgage Insurance percentage to your FHA interest rate to get your actual rate. For example if you have an FHA Home Loan Rate of 5% and you’re paying .85% in FHA Mortgage Insurance your actual rate is 5.85% You can typically get this information from your FHA Mortgage monthly statement or you online FHA Home loan login. If you need help reading your FHA Mortgage Statement give us a call or email it over to me and we will be happy to assist.
To have your Mortgage Insurance removed you will need to have 20% equity in your home and be able to qualify for a Conventional Home Mortgage. To see how much equity you have in your home go to the free tools tab on www.dreamhomefunder.com and click the Home Value Estimate Tab. If you’ve been turned down for a conventional mortgage in the past don’t worry we have options available.
To see how much money you can save each month by removing mortgage insurance visit this link http://howmuchcanyousave.itclix.com/ As always you can call / text 480-203-6263, email firstname.lastname@example.org, and visit me online http://www.dreamhomfunder.com. Thanks for watching and your referrals.