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fha loans: FHA Streamline Refinancing Fees Reduced - 03/30/12 11:10 AM

FHA Streamline Refinancing Fees Reduced
The White House recently announced significant changes that will reduce the fees charged for the Federal Housing Administration's (FHA) Streamline Refinance Program.
Beginning June 11, 2012, the Streamline Refinance upfront fee of 1% will be reduced to 0.01% of the total loan amount. And the annual fee will be lowered from 1.15% to 0.55% of the total loan amount.
By refinancing through this streamlined process, the average qualified FHA-insured borrower will save approximately $3,000 a year or $250 per month, on top of any savings from refinancing to a lower mortgage rate.
 
The … (3 comments)

fha loans: FHA Insurance Premiums Will Increase Soon - 03/06/12 07:25 AM
 
 
FHA Insurance Premiums Will Increase Soon
If your clients are considering buying or refinancing a home, you should let them know that the Federal Housing Administration (FHA) will soon increase mortgage insurance premiums on FHA home loans.
The Department of Housing and Urban Development (HUD) announced it would increase the annual mortgage insurance premium (MIP) by 0.10% for FHA loans under $625,500. This would raise the fee from 1.15% to 1.25% of the total loan amount. This annual premium increase — which is broken down into monthly payments — takes effect April 1, 2012.
In addition, HUD announced it … (0 comments)

fha loans: Growing Demand for Renovation Loans - 12/15/11 10:55 PM
     
 
As the Nation's Second Largest 203K Lender, Prospect Sees Demand Growing for Renovation Loans
Currently, foreclosures account for about 30% of all home sales in the U.S. Many of these homes have been neglected and are in need of repair. These market conditions have made renovation loans a hot item.
Renovation loans are very attractive for a number of reasons. The Federal Housing Administration (FHA) 203K renovation loan provides the money to both purchase the home and finance the home's renovation. The down payment required on a renovation loan can be as low as 3.5%. … (2 comments)

 
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Julie Chroust, NMLS# 249458, Direct Lender & Mortgage Banker

Walnut Creek, CA

More about me…

Julie Chroust, Prospect Mortgage, Walnut Creek, CA

Address: 1910 Olympic Blvd,, Suite 120, Walnut Creek, CA, 94596

Office Phone: (925) 516-5809

Cell Phone: (925) 381-1481

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