jumbo loan rates vs conventional

Under the new FHA mortgage insurance rules, when you use a 30-year fixed rate fha mortgage and make a down payment of 3.5 percent, your FHA mortgage insurance premium (MIP) is 0.85% annually.fha conversion loan FHA HECM loans are designed specifically for those age 62 or older who want an fha loan product that lets them cash in on the equity built up in their home over the years. The scam sometimes includes an offer of payment on a home the borrower didn’t actually buy, or a no down payment home loan.