We have been approved for a FHA loan with 10% down and can't find a mip or pmi company that will accept us,
What can we do? Thanks
Jason
Jason-
On an FHA loan, mortgage insurance is standard and is set by the government. You don't have to find an mip company to issue it. Can you clarify what the difficulty is?
Is it possible that you qualified for an FHA loan but you can't find a bank to take your file?
Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com
Apply Online: flagstarloans.com/lallison
Are you purchasing a condo? That is a real issue that we are having right now. I have serval buyers that I am working with that are having the same problem. It seems that the PMI companies are changing their rules by the minute. Have you tried a local bank? Johnson Bank might be one or Westbury Bank might be another for you to try.
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