Real estate blog entries tagged with fha mip by Illinois Financial Advisor Greg Zaccagni (Farmers Insurance)

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Home : Blogs : Illinois Financial Advisor Greg Zaccagni : Greg 's Blog : Tag "fha mip"

fha mip: FHA lowers up front mortgage insurance premiums (MIP) for qualified borowers - 06/12/08 12:40 PM

FHA switches to Risk Based Pricing & variable up front Mortgage Insurance Premiums (MIP)
The Federal Housing Administration (FHA) is moving ahead with risk-based pricing to refinance more subprime borrowers into safer and less expensive FHA-insured loans and attract more creditworthy borrowers.
It's the first time in FHA's 74-year history they are going to base premiums on risk according to FHA commissioner Brian Montgomer. Risk based pricing (RBP) goes into effect July 14, 2008.
Currently all FHA borrowers pay a 1.5% upfront (MIP) premium regardless of risk. The new RBP structure that goes into effect July 14, raises the upfront insurance premium by 75 basis … (2 comments)

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Illinois Financial Advisor Greg Zaccagni

Wheaton, IL

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Address: Dupage, Kane, Cook County etc.., Wheaton, IL, 60189

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