PMI vs. MIP Explained + What to Do When Mortgage Rates Keep Fluctuating

In this episode of Go Gaddis Real Estate Radio, Cleve Gaddis unpacks two essential pieces of the mortgage puzzle: PMI (Private Mortgage Insurance) and MIP (Mortgage Insurance Premium). If you're planning to buy a home with less than 20% down—or using an FHA loan—this is a must-listen segment. 📌 Listener Question #1: Vivian from Decatur wants to know how mortgage insurance works and whether she’ll be required to pay PMI or MIP on a conventional loan. Cleve walks through: The difference between PMI (conventional loans) and MIP (FHA loans) How down payments affect your monthly mortgage insurance When and how these fees can be removed 📌 Listener Question #2: Phylis and Jon from Alpharetta are feeling overwhelmed by fluctuating mortgage rates. Cleve offers clear advice on: Why mortgage rates change daily—and what influences them When to consider locking in your rate How to plan wisely, even when the market is unpredictable 🎯 Whether you’re a first-time buyer or looking to upgrade, this episode will equip you with knowledge to navigate both mortgage insurance and volatile interest rates with confidence. 💬 Questions? Comments? Looking for expert advice? Visit GoGaddisRadio.com to connect, ask your questions, and subscribe to our podcast. You Get All the Upside when you work with Modern Traditions Realty Group—serving Metro Atlanta and beyond with a full suite of real estate solutions that take the stress out of buying or selling.