Is PMI negotiable? I read that it's any where from .5% to 1.5% Please advise

Mortgage insurance is not negotiable. It is calculated based on the loan type (i.e. conventional versus FHA), and the monthly premium amount depends on the borrower's credit score, loan amount, Loan-to-value, and occupancy type. You can also obtain lender paid mortgage insurance where the interest rate is adjusted upwards and the MI is eliminated, or you can also pay a lump sum instead of monthly, or even finance the premium in certain circumstances. If you are buying or refinancing in Arizona then give me a call and I can provide specifics. Scott Harward 480-223-2265

No.. it's not negotiable.. the MI companies set the premium and it is what it is.. the reason for the range is because MI is based on the loan to value, loan amount and the lowest mid credit score of all borrowers.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Not negotiable. Super important!!!!.......... Do not let a mortgage broker tell you that there is no PMI on a loan for only 5, 10 or 15% down. Look at the difference between the interest rate and APR. This is where they load you up with fees, one of which is PMI if you are above 80% LTV. To understand APR go to http://www.bankrate.com/finance/mortgages/apr-and-interest-rate.aspx It is an easy read. To understand some of the APR costs (fees which are included) go to https://www.mortgagefit.com/apr.html#fees Fair resources to read from and get some information. Best advice.... Find a reputable mortgage broker (local) and sit down with them. Ask lots of questions so that you fully understand the loan, associated fees etc so that you can make a solid decision for the right loan for your needs. Scott.