Real estate blog entries tagged with mip by Doug Walker (Churchill Mortgage)

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Home : Blogs : Doug Walker : Doug Walker's Blog : Tag "mip"

mip: FHA Changes Coming Tomorrow - 01/19/10 08:43 PM

FHA will announce some major changes to their lending guidelines that will have quite an impact on lenders and borrowers alike.
Upfront Mortgage Insurance The Upfront Mortgage Insurance that FHA requires on most of their loans will be increased from 1.75% to 2.25%. This amount is added to the final loan amount, so there will not be additional funds needed at closing from the borrower.
For example, a borrower with a loan amount of $200,000 would normally have $3,500 added to their loan balance due to the M.I.P. Now that the M.I.P. has been raised to 2.25%, that amount will go … (3 comments)

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Doug Walker

Nashville, TN

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