In order to enter an FHA properly in the Advice Engine, you will need to make sure to account for the following:
- Selecting the Upfront Premium Type so it identifies this as an FHA loan
- Entering the UFMIP % on the closing costs screen and financing it into the loan
- Adding monthly mortgage insurance as a percentage
- Selecting the “MI Calc on Balance” checkbox
This video tutorial will show you how to do each of these items as well as how to check your work for accuracy.