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fha refinance: FHA MIP Is Changing - 09/05/10 01:28 PM
For 30 year mortgages, the upfront is moving down from 2.25% to 1% and the monthly is moving from .55% to .9% for those putting less than 5% down and .85% for those putting more than 5% down payment. Here is a link to an article discussing the changes:
http://www.washingtonpost.com/wp-dyn/content/article/2010/08/05/AR2010080506663.html
The question you might be asking is "is this a consumer benefit?" Here is one interpretation:
http://www.thinkbigworksmall.com/mypage/archive/1/52542/
On a separate note, doing a short refi with an FHA loan MAY be possible if the servicer agrees. Here is the FHA rule:
http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/10-23ml.pdf
So, here we go again. Life is about … (0 comments)
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fha refinance: Twin Cities Metro FHA Loan Limits-Minnesota Mortgage Broker - 02/26/09 11:05 AM
It is official-FHA will be increasing the loan limits in the metro area. This will help more people refinance or purchase with FHA loans. Why FHA? Consider that you can do a purchase at up to 96.5% and a refinance up to 97.7% for rate and term and 95% for a cash out refinance. FHA mortgages are available throughout Minnesota. The loan limits are going to be less outside of Minneapolis/St Paul and the Metro area-call us for details.
Single Family - $365,0002 unit - $476,2503 unit - $564,8004 unit - $701,900
… (0 comments)
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fha refinance: Twin Cities Metro Area in MN, Minnesota Is A High Cost Area-Minnesota Mortgage Limits Will Benefit - 03/10/08 09:02 PM
Edina, MN Minnesota Mortgage Broker-Venture Development
Twin Cities Minnesota is a "High Cost" area-OK so what NEWS about that? If you live in the Twin Cities Metro area, you are well aware that it is expensive to live here. That being said, we are now going to benefit from that reality as we are recognized officially as a high cost region. From a mortgage perspective, mortgage loan limits are being raised in the Metropolitan area.
The most common question is: How is a high-cost region determined? And does our community qualify as one?
Here are your answers:
A high-cost region is typically determined by the … (1 comments)
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Patti Mazzara NMLS #333279
Edina,
MN
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Venture Development Inc NMLS #373115
Address: 7300 France Ave S #410, Edina, MN, 55435
Office Phone: (952) 285-4319
Cell Phone: (612) 237-6277
Email Me
Learn about the Twin Cities real estate, minnesota real estate, minnesota home financing, minnesota mortgages, FHA, VA, Reverse Mortgages, Debt Consolidation, refinancing, first time buyer programs, interest only loans, Edina, Minneapolis and St Paul. Visit our mortgage site at http://www.ventureloanapp.com or http://www.edinamortgage.com
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Venture Development NMLS #373115
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