Video Transcript:
Everyone looks at interest rates, but the real cost trap is mortgage insurance. With one loan, that payment can last forever, costing you much more. I am David Ghazaryan, and I build the financial plans for these loans. I look past the monthly payment to find the structure with lowest cost. Here is the most important difference. FHA loan insurance can stay forever. But conventional loan insurance has an off-switch you can use when value grows. In places like Florida, your home’s value can grow very fast. This growth helps you push that off-switch sooner, saving you thousands on insurance payments. In five years, FHA insurance alone can cost you over eight thousand dollars extra. (Data may vary over time) That payment continues; the other one stops. The correct loan structure is a powerful financial tool, not just a payment. The full analysis is in the article. See my platforms; links below.
Read Blog Here: https://www.iqratemortgages.com/blog/fha-vs-conventional-loan-in-florida-a-5-year-cost-guide
