– FHA Loan borrowers must pay these two mortgage insurance premiums: First is an upfront mortgage insurance premium (MIP). This is equal to 1.75% of the base amount of the loan.
Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%. Cons Doesn’t offer home equity loans or HELOCs. If you’re a.
FHA Loans: Pros and Cons | Real Estate Investing | Blog – FHA loans specifically now cost 0.85 percent of the loan for the life of the loan (if the down payment is under 5 percent). So, for a $100,000 loan, the PMI would amount to $850 per year, or $70.83 per month.