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).
Active Guard Reserve (AGR) Soldiers serve full-time and enjoy the same benefits as Active Duty Soldiers. With an Active Guard Reserve job, you receive full pay, medical care for you and your family, and the opportunity for retirement after 20 years of active service. You must be discharged from your current component of the Army, Army Reserve or Army National Guard. 2  You must be at least 18 to 54 years old (you must not have reached your 55th birthday). 3  You must be in ranks SPC through MSG/1SG.