searchhsearchn Rock asearch Www Hsearch-searchn Rock ue Tag Rock o Rock n Rock i Houseloanmortgageloans Star einacesearchB8searchD Rock %C Www % Star 5searchD Star %B9 Star D Www %search2 Www B Star % Tag D0Dsearch%Csearch%search3searchE6,www.karpi.coma Star psearchrt Star a Www Tag e Houseloanmortgageloans usearchdsearchf Www o Rock hsearch searchlsearch searchrsearchmsearchu Rock may be applied toward the upfront premium required for the new loan. The amount of the potential refund is based on how long the original mortgage was in place.

Some borrowers don't pay an upfront mortgage insurance premium. Those borrowers pay a higher annual premium and that premium stays in place over the life of the loan.  If you pay an upfront mortgage insurance premium, the annual premium stays in place until the loan-to-value of your mortgage reaches 78 percent of the initial sales price or the appraised value of your home, whichever was lower. The premiums must be paid for at least five years.

Paying discount points to reduce the stated interest rate on the loan is a separate decision. In general, it doesn't make sense to pay discount points if you don't plan on being in the loan for a long time. Bankrate's "Mortgage Points Adviser" can help you make that decision.

The mortgage insurance premiums presented in this reply came about because of a one-year moratorium on the risk-based pricing of FHA mortgage insurance premiums. The Housing and Economic Recovery Act of 2008 provided for that moratorium, which began on Oct. 1, 2008.

The U.S. Department of Housing and Urban Development's "Mortgagee Letter 2008-22" explains it all in greater detail.