Video Transcript:
People think all mortgage insurance is the same, but it is not. This one difference between loan types costs families a lot of money for years. My name is David Ghazaryan, and I build loan structures every day. The insurance part is often the most important detail that people get completely wrong. FHA loans add a big fee upfront and have monthly payments forever. But conventional loan insurance can be removed when your house value goes up enough. With a good credit score, your monthly payment can be much lower. The FHA loan doesn't use your score, so everyone pays the same high rate. That small monthly FHA payment adds up to tens of thousands of dollars. This is money you cannot use for your family over the loan’s life. I break down these structures daily on my social media and my website. You can read the full article and find links in the description below.
Read Blog Here: https://www.iqratemortgages.com/blog/fha-mip-vs-pmi-for-california-homebuyers
