Is FHA prepaid mortgage insurance deductible?

Posted on Sep 1, 2012 in FHA Information

A couple of great apartment constructing photos I found:


Image by edgeplot
Apartment constructing.

More great houses click right here…

The lamp

Image by Geir Halvorsen
.. and the apartment developing.

Much more great houses click right here…
Arizona Refinancing Expert Explains New Residence Reasonably priced Refinance Program
Phoenix, diagnosis AZ — (SBWIRE) — 08/23/2012 — Help has finally arrived for Arizona property owners whose home values have dropped over the past couple of years. In order to reduce fees of mortgage installments today and get a good fixed rate plan underway …
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Mortgage Q&ampA: Borrowing for refi is one resolution
For numerous causes, try they had been not eligible for the oft-touted House Inexpensive Refinance Plan (HARP). If you have read my prior columns, this web you will know … equal to 90 percent of the home&#39s current worth. The house appraised for $ 415,000, which …
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Question by Tim6298: Mortgage pre-approval questions (FHA fixed loan)?
1.) Once we get all of our paper work together or go to our bank, dosage about how long before we get an answer on whether or not we are approved?
2.) If we get pre-approved, remedy once we find a house, is that approval only good for getting a mortgage at that bank? And on average how long is a pre-approval good for, not sure when we might close on a house, so I dont want to get pre-approved in the next few weeks, just to go through it again if we dont find a house right away.

Best answer:

Answer by Gorkbark Porkduke Gefunken Fubar
You are going to run into a problem where the bank will keep demanding more paperwork, and this will go on for so long you will eventually drop the whole idea of buying a house. this is the trend I have noticed.

The pre-approval is only good at that particular bank; it’s a part of their own application process and they are not about to share information on a prospective customer with another free-loader competitor bank.

A pre-approval might be good for 30 or 60 days, but they will drag out their demands for more paperwork long past that point.

The only option is to wait until you have saved enough money to pay the entire purchase price in cash, or are able to find a seller willing to hold a mortgage. On the plus side, house prices still have to drop another 50 to 75% to work out the inflated prices caused by government meddling in the financial and real estate markets over the past 50 years.

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Near-historic low mortgage rates drive refinancing boom in Pensacola area
If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, this site HARP can help. Managed under the Departments of the Treasury and Housing and Urban Development, HARP …
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Question by VVV: Is FHA prepaid mortgage insurance deductible?
(For a Refinance, this site not purchase)….Upfront Prepaid Mortgage premium is over $ 10, pharm 000. Is this upfront premium tax deductible, malady as is a monthly mortgage insurance premium?

Best answer:

Answer by Expert Realtor
Up front premiums are NOT tax deductable.

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