tag:blogger.com,1999:blog-9198217906327726723.post396439908417244371..comments2009-08-12T17:04:14.023-05:00Comments on Naheed Amdani, Attorney: FHA and Mortgage Insurance -- What is the UFMIP?Naheed Amdanihttp://www.blogger.com/profile/14795201203580900187noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-9198217906327726723.post-79424990949797927422009-08-12T17:04:14.023-05:002009-08-12T17:04:14.023-05:00In response to your question, it is my understandi...In response to your question, it is my understanding that the UFMIP fee is factored into the loan and is approved at 95%. Even though the loan is underwritten at 95% LTV, the actual LTV is 95% plus the UFMIP. However, to get the best answer to your question, you should contact a mortgage lender proficient in FHA lending.Naheed Amdanihttp://www.blogger.com/profile/14795201203580900187noreply@blogger.comtag:blogger.com,1999:blog-9198217906327726723.post-77207718899180397442009-08-11T13:55:45.332-05:002009-08-11T13:55:45.332-05:00If a buyer puts down 5% and finances the UFMIP, I&...If a buyer puts down 5% and finances the UFMIP, I'm told that the lender as well as FHA considers the base LTV to be 95%, and the loan is underwritten and approved as such, however the LTV would appear to be 96.75% from someone who doesn't understand FHA financing, correct?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9198217906327726723.post-70944462216135107252009-08-04T15:44:06.419-05:002009-08-04T15:44:06.419-05:00It is my understanding that if you complete an FHA...It is my understanding that if you complete an FHA refinance you will be charged a UFMIP fee of 1.50%. However, you will also receive a credit for a portion of your previously paid UFMIP (because you refinanced before the term of the loan expired). In order to determine how much credit you will get, you need to speak to your lender; your lender should be able to calculate this for you based on how many months you are into your mortgage.Naheed Amdanihttp://www.blogger.com/profile/14795201203580900187noreply@blogger.comtag:blogger.com,1999:blog-9198217906327726723.post-57068805241285929802009-08-04T10:44:55.700-05:002009-08-04T10:44:55.700-05:00How does UFMIP work under an FHA Streamline Refina...How does UFMIP work under an FHA Streamline Refinance with no appraisal? Do you have to pay this fee again? Why do you get a refund on your UFMIP that was paid out the first time?Carolynhttp://www.blogger.com/profile/02285430827230650838noreply@blogger.com