To have single premium MI, you would need to select the loan as an FHA loan. Don’t worry, the TCA will not be tagged as an FHA loan anywhere. This FHA flag provide the one-time Up Front Mortgage Insurance Premium field. Go ahead and put in the single premium in this field and choose whether or not to finance the amount into the loan. Then in the monthly cost screen, do not put in a MI factor as they would not be responsible for monthly MI.
Articles in this section
- Which fees should be included in the APR?
- How can I delete a product?
- How do I copy or duplicate an existing report?
- Is there a debt consolidation tool in MC?
- How do I show down payment assistance in MC?
- How do I calculate the UFMIP refund on a FHA Streamline Refi when I don't know the original UFMIP?
- How do I prepare an amortization for loans in MC?
- How can I show a Purchase vs Cash scenario? (paying in cash opposed to a mortgage)
- How to enter reserves in MC
- How to enter in a seller or lender credit