Instead of monthly mortgage insurance, this upfront fee helps offset the program’s cost to taxpayers, making it possible for the VA to continue offering no-down-payment loans to future generations of service members.
This is more than just a standard home valuation—it’s a detailed inspection designed to make sure the home meets both value and safety standards set by the Federal Housing Administration (FHA).
While FHA loans are popular for their flexible credit requirements and low down payment options, they come with a unique cost—mortgage insurance premiums (MIP).
PMI is one of the most commonly misunderstood aspects of home financing, but it plays a key role in helping buyers purchase homes with less than 20% down.
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