Effects. Buyers using an FHA-insured mortgage to buy a home are required to pay an upfront mortgage insurance premium, or MIP. In 2010, the MIP percentage was 2.25 percent of the loan amount. In our example of the $350,000 home, the loan amount would be $350,000 minus the $12,250 down payment, or $337,750.he down payment amount is calculated by multiplying the home purchase price times 3.5 percent, or 0.035. For example, the required down payment on a $350,000 home would be $12,250. The home buyer would have to bring this amount plus any additional closing costs when the papers are signed to buy the house.
Active Duty vs. Reserve or National Guard What is the difference between someone who is active duty military and someone who is in the Reserve or National Guard? A person who is active duty is in the military full time. They work for the military full time, may live on a military base, and can be deployed at any time. Persons in the Reserve or National Guard are not full-time active duty military personnel, although they can be deployed at any time should the need arise. The Reserve Each branch of the military has a Reserve component and the Reserve are under the command of their respective military branch (e.g., Army Reserve are under the command of the Army).
National Guard: Active. National Guard members performing active service where pay is received from the Federal government may qualify for many VA benefits. This could be active duty under Title 10 or full-time National Guard duty under Title 32, to include performing full-time duties as an Active Guard Reserve member.Learn more about your Active National Guard VA benefits, such as Education, Home Loans, Disability Compensation, and Pension.his could be active duty under Title 10 or full-time National Guard duty under Title 32, to include performing full-time duties as an Active Guard Reserve member. Learn more about your Active National Guard VA benefits, such as Education, Home Loans, Disability Compensation, and Pension.