LPMI stands for Lender Paid Mortgage Insurance and if used wisely, it can save you money on your monthly mortgage payment.

Over the past few weeks we’re received a lot of questions regarding the recent changes to the FHA loan program. I might as well address some of these questions and concerns publicly. The changes are due to the recently signed Housing and Economic Recovery Act of 2008. Changes to the down payment requirement: The minimum [...]

Major changes go into affect on the FHA loan program on Monday July 14, 2008. These changes are very significant and will impact the affordability of these loans for many borrowers, especially those will less than stellar credit who can’t put 5% down. Basically, almost everybody in todays market. Essentially, the Upfront Mortgage Insurance Premium (UFMIP)and [...]