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This Federal Housing Administration (FHA)accurately displays the cost of mortgage insurance for an FHA-backed loan. Unlike most private mortgage insurance (PMI) policies, FHA uses an amortized premium, so insurance costs change along with your loan amount.
Using a mortgage refinance calculator can help you understand. it has to be offset by a rate reduction. “Otherwise it’s not worth refinancing,” Stevens says. One potential downside to an FHA.
The chart below says it all. Considering the rate at which FHA mortgages are now becoming. nearly 50% of all purchase mortgages issued in San Diego County were FHA-insured. With an average mortgage.