FHA VS Homepath

Rates change every day but the differences between these two products remain the same.

FHA Cost:
Purchase Price: $400,000
3.5% down: $14,000
1% upfront MI fee: $4000 Total Loan amount: $389,860
Principal and interest: $1997.14 (rate est 4.375% no points) 
Taxes (estimated): $322
Insurance (estimated): $80
Mortgage Insurance: $287.52
Total Monthly payment: $2686.66

HOMEPATH has no mortgage insurance
Purchase Price: $400,000
3% down: $12,000 down
Total Loan amount: $388,000
est interest 5.125% with one point
Principal and interest: $ 2112.61
Taxes (estimated): $322
Insurance (estimated): $80
Total Monthly payment: $2514.61