Two-part mortgage insurance. Two mortgage insurance premiums are required on all FHA loans: The upfront premium is 1.75 percent of the loan amount -- $1,750 for a $100,000 loan. This upfront premium is paid when the borrower gets the loan. It can be financed as part of the loan amount.
What is cubic zirconia (CZ)? Cubic zirconia (also known as CZ) is similar to a diamond with its brilliance and crystal clarity, but it is a synthesized (man-made) crystalline material that is colorless, hard, and flawless. It looks so much like a diamond, it is an affordable alternative to diamonds.
Cubic zirconia can be evaluated using the same qualities that diamonds and other gemstones are graded by: the Four Cs (color, clarity, cut and carat weight). A CZ is not as durable as a diamond, sapphire or ruby, and that means it is more likely to become scratched over time. Cubic zirconia can be transformed into the same popular cuts and shapes that are used for diamonds and colored gemstones. 2  A white CZ is truly colorless, with none of the inclusions found in an untreated diamond -- think of it as a little too perfect.