fha mortgage insurance premium mip: FHA Monthly Insurance Premium (MIP) Will Be Reduced To .55/.60 - 01/09/17 11:59 AM
FHA announced today that effective on January 27, 2017, the FHA Monthly Insurance Premium (MIP) Will Be Reduced To .55/.60.  MIP factors for LTV's 95% or less will be reduced to .55, and the MIP factors for LTV's greater than 95.01% will be reduced to .60.  This is very encouraging news in the continuing effort to achieve a full Housing Market recovery.  This reduction in the MIP is also only the 3rd time in the history of the FHA they have reduced the MIP.
Below is a chart with the new MIP factors based on loan size, and Loan-To-Value (LTV).
 
 
The reduction of … (21 comments)

fha mortgage insurance premium mip: FHA Monthly Insurance Premium (MIP) Reduction On Hold - 01/08/17 12:23 PM
This month on Monday, January 9th FHA announced  the FHA Monthly Insurance Premium (MIP) would Be Reduced To .60 on LTV's of greater than 95.01% and .55 for LTV's 95% or less.  This is only the 3rd time in the history of the FHA they had reduced the MIP, and the 2nd time in the last two years. But this latest reduction was short lived when HUD put the FHA Monthly Insurance Premium (MIP) Reduction On Hold yesterday.
This freeze on the FHA reduction in the MIP was not limited to HUD.  This freeze was a part of an over all freeze … (14 comments)

fha mortgage insurance premium mip: FHA MIP Being Reduced For Only 2nd Time In The History Of FHA - 01/17/15 05:47 AM
Next Monday January 26, 2015 FHA will experience a historical event in the history of FHA.  For only the second time since the inception of FHA the FHA Monthly Insurance Premium (MIP) will be reduced.  But before we give credit to the Obama Administration for the FHA MIP Being Reduced For Only 2nd Time In The History Of FHA, lets take a look at what the MIP factors have been since FHA came into existence.
 

 
As you can see from the chart above prior to September 1, 1983 the FHA Monthly Insurance Premium (MIP) was only a .50 … (14 comments)

fha mortgage insurance premium mip: FHA Is In The Black Again, But Still Below The Statutory Minimum - 11/18/14 02:39 AM
The news from FHA this week is that FHA Is In The Black Again, But Still Below The Statutory Minimum.   The news FHA Mutual Mortgage Insurance Fund (MMI) is showing positive numbers again is good news, but the news it only hit a .41% capitol ratio is not.
Last year FHA projected the fund would go from a negative .11% to positive 1.2% this year, and achieve or surpass the full 2% Statutory Minimum the Fund is suppose to operate at by next year.  The FHA report which just came out is now pushing back projections for the Fund to not reach … (13 comments)

 
George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut) Ambassador large

George Souto

Your Connecticut Mortgage Expert

Middletown, CT

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George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut

Address: One Liberty Sq., PO Box 1000, New Britain, Ct, 06050

Office: (860) 573-1308

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