What Is the Difference between PMI and Mip?

Answer

There are many differences between PMI and MIP insurance. The major difference between the two is who guarantees the loan. Private mortgage insurance is for loans backed by Freddie Mac and Fannie Mae. Mortgage insurance premiums are for loans backed by the Federal Housing Administration.
Q&A Related to "What Is the Difference between PMI and Mip?"
If the fee is the same, it is the same thing. Are you looking at a Good faith estimate, or a HUD-1? It could be a simple clerical issue. You need to do the math. See if the cost to
http://answers.yahoo.com/question/index?qid=201208...
MIP = Male Iron Pipe thread (i.e. threads on outside of fitting) FIP = Female Iron Pipe thread (i.e. threads on inside of fitting)
http://wiki.answers.com/Q/What_is_the_difference_b...
An MIP, Minor In Possession, means you physically possessed it. An
http://www.chacha.com/question/what-is-the-differe...
FHA charges mortgage insurance premiums for its loan products. But, they break up the premium in two parts to make owning a home more affordable. The best way to explain it is to
http://www.trulia.com/voices/Financing/For_FHA_loa...
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