This is a very easy trick to check mortgage insurance on FHA loans. It gives a very close result.

• Mortgage insurance on a FHA mortgage loan is a monthly fee you pay for insurance for the bank in case you default on your mortgage. Mortgage insurance on a FHA loan last until the loan amount is about 78% of the value of the house or less.
• There is a good rule of thumb for finding the amount mortgage insurance on a FHA mortgage loans.
• Mortgage insurance on a FHA loan is approximately .720% (or .0072) times the base loan amount divided by 12 months.
• This is not exactly perfect, but it is how most mortgage brokers and banks initially figure out the mortgage insurance on a FHA loan.

Chris Mack is a professional mortgage consultant and is working in a well reputed mortgage company, providing FHA loan Maryland. So if you are facing any difficulties regarding mortgage loans, feel free to contact at chris.mortgages@gmail.com