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Is there anyway to get rid the PMI on a FHA Loan that will closed this month? Is this a good deal?
Written By: admin on July 14, 2009
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A friend is refinancing. He was approved for an FHA loan @ 5.75%. He is paying 2.75% points. They are including 2,500 up front PMI fees to be financed in the mortgage. In addition, he is being questioned to pay .00/PMI. His house is worth at least 266,000. He is obtaining a 152,000 loan. Is this a excellent deal. The credit was less than perfect.
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