The changes included limitations on the amounts that can be drawn in the first year, the option to receive a smaller one - time single lump sum disbursement, as well as changes to the mortgage insurance premium, the principal limit factor tables, and requiring a financial assessment of borrowers» ability to pay future property taxes and insurance obligations. (onefpa.org)
Most people choose a lump sum disbursement — they get the entire amount at once, tax - free, divided between the number of beneficiaries. (policygenius.com)
When borrowers choose a lump sum disbursement, they receive their funds at closing. (americanadvisorsgroup.com)