Montalbano & Associates
Michael Montalbano
Designated Managing Broker
Michael Montalbano
Designated Managing Broker

Montalbano & Associates
4843 W Newport Ave
Chicago, IL 60641
Phone: (312) 593-7629
Fax: (312) 873-4437
Contact Page
4843 W Newport Ave
Chicago, IL 60641
Phone: (312) 593-7629
Fax: (312) 873-4437
Contact Page
| Michael P Montalbano Designated Managing Broker / REALTORĀ® 312-593-7629 View Profile |

Hold mouse over logo for description.PMI vs FHA MIP
Although the insurance protection concept is similar, there are differences between private mortgage insurance and FHA mortgage insurance. FHA insurance is a government-administered mortgage insurance program that does have certain restrictions. FHA has maximum regional loan limits that are lower than those with private mortgage insurance. FHA may be more expensive, take longer to receive approval, and have fewer payment plan options. FHA insurance lasts for the life of the loan, unlike private mortgage insurance which is cancelable in most circumstances. FHA is a good choice for some borrowers with credit history problems that might need special assistance.

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