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[...] Just how big is the FHA? – NAR [...]
I am surprised I have not heard NAR protesting the PMI insurance being charged the full term of an FHA Loan. Previously after 20% equity, the PMI was dropped. That additional charge the full term of the loan makes the FHA loan expensive for the homebuyer. Would like to see that long term of the loan charge for PMI taken back to the 20% equity then dropped.
I am also shocked that NAR is raising cain about the PMI staying in place for the whole term of the loan.. Just doesn’t seem right. Maybe they know womethign we don’t?
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