Kentucky Mortgage Rates Today

The different types of mortgage insurance available for Louisville Kentucky Mortgage Loans
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Annual Plan – The first year premium is collected at closing, and then monthly payments are held in escrow for the following year.
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Monthly Plan – Two months of MI is paid at closing, then collected monthly as part of the mortgage payment.
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Zero Up–Front Plan – Use that money for the down payment instead, as MI is paid monthly with the first mortgage payment, not at closing.
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Single/Financed Premium – Entire MI premium is paid at closing, and can be paid with down payment assistance or financed into the loan.
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Split Premium – A combination of single premium and the monthly plan; the seller can help with the up–front premium or it can be financed in, resulting in lower monthly premiums.
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Single Premium Lender Paid Mortgage Insurance (LPMI)4– “Life of Loan” mortgage insurance that is paid after closing by the lender; no annual or monthly premiums or renewals.
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