Amy, there's no discount on the UFMIP (Upfront Mortgage Insurance Premium) or the MIP (Monthly Insurance Premium). I noticed that you asked several questions regarding FHA mortgages recently. Are you aware that changes scheduled to take effect this April and June may make FHA mortgages significantly more expensive for most borrowers. I explained these changes in a recent blog posting that you can access through my Trulia profile.
Depending on your situation, a conventional loan may be a less expensive option for you than FHA. Many buyers are not aware that they can qualify for a conventional loan with as little as 3% down under certain circumstances. Please consult with a licensed mortgage professional to review all your options and get preapproved. I have extensive experience helping buyers become successful homeowners. For more information or assistance, I can be reached directly at 917.699.0183. Follow me on twitter @mdenniston247.
I value your feedback, please hit the thumbs up if my reply was helpful. All the best.
Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Sales Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973