Using the last row as an example, for a loan term over 15 years and an LTV over 90 %, the borrower must pay an MIP the entire duration of the loan term. (centralcoastlending.com)
«We were able to obtain a very low, fixed - rate loan for the entire duration of loan term, with only one rate - lock and rate locked prior to initial closing,» Davis stated. (cambridgecap.com)
Now, the FHA loan requires MIP to be paid for either 11 years or the duration of the loan term. (centralcoastlending.com)