fha mip: FHA Wants to Raise Annual MIP from .55% to .85% - 02/02/10 02:38 PM
I have been hearing rumors that FHA wants to increase their annual mortgage insurance preimium (MIP) from .55% to .85% the only source I have found so far is this article in the Washington News section of National Mortgage News.
February 1, 2010  "The Federal Housing Administration is seeking congressional permission to raise the annual premium on FHA-single-family loans to 0.85%, up from the current 0.55% statutory limit, according to the President's fiscal year 2011 budget proposal. "If granted this statutory flexibility, FHA will lower the upfront premium to 1% and increase the annual premium from 0.50% to 0.85%," the budget … (3 comments)

fha mip: Risked Based FHA UPMIP - 07/29/09 04:03 PM
Risk Based FHA UFMIP
In 2008, FHA decided to change UFMIP from a fixed amount to a variable risked based UFMIP, an amount that would vary depending on the loan-to-value and credit score of the borrower.  Then, before risked based UFMIP was put into effect Housing Bill HR 3221 placed a moratorium on Risk Based Pricing Beginning October. 1, 2008 and ending September. 30, 2009. 
The way it is presently structured, once it goes into effect, Risk Based UFMIP will vary from a low of 1.25% for borrowers with 680 or better credit scores to 2.25% for borrowers with credit scores below 600.
… (1 comments)

 
Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970 Rainmaker_large

Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

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