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Does the risk-based premiums apply to 15-year loans?

April 26, 2017Loans premiums risk-based

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Does the risk-based premiums apply to 15-year loans?

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A. Yes, but the premium matrix differs for 15 year loans vs. loans that are greater than 15 years. In the Notice issued on May 13, 2008, there are two charts on annual and upfront premiums – one is for loans with loans terms greater than 15 years and the other is for loans with terms that are 15 years or less. Please refer to the notice for the specific type of loan that you are looking for and the appropriate matrix to use.