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payment: FHA upfront and annual mortgage insurance increasing again for home loans! - 03/16/12 10:23 AM
FHA has increased their upfront and annual mortgage insurance premiums again. It is getting very expensive for an FHA loan. If you can qualify for a conventional loan, the costs are much better. There is no upfront MI and much lower annual (paid monthly in mortgage payment) MI.
Changes will be effective on April 9, 2012.
The charts below illustrate the 10 basis points (bps) increase in the Annual Mortgage Insurance Premiums (loan amounts under $625,000) and a 75 basis points (bps) increase to the Upfront Mortgage Insurance Premium (UFMIP). It is anticipated that these marginal increases are affordable for nearly … (0 comments)
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payment: FHA changing the Annual Mortgage Insurance Premium (MI) amount again on April 18, 2011. - 02/15/11 02:40 PM
Borrowers and lenders should realize that there are new changes (an increase) coming to the FHA Annual Mortgage Insurance premium on April 18, 2011. If you recall, FHA recently made changes on October 4, 2010 and lowered the upfront MIP to 1% (from 2.25%) and raised the monthly MI to a factor of .90%. Well...this is going to change again. The upfront MIP will remain the same, but the Annual Mortgage Insurance premium (MI) will increase in most cases. Here are the current FHA UFMIP and Monthly MI amounts...
FHA MI Fees as of October 4, 2010
UFMIP = 1.00% & Monthly … (0 comments)
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payment: Rates are lower! Should you refinance? Call us if you live in Kent, Auburn, Federal way, Renton, or any other King County area. - 10/31/07 10:00 AM
How to Take Advantage of Lower Mortgage Rates. The Fed has lowered again and you should take advantage of it!
Fixed Rate Mortgages
The reduction in interest rates by the Federal Reserve doesn't necessarily result in drastically lower rates for fixed-rate mortgages. This is because bond rates, not the fed rate, drive fixed mortgage rates. However, rates are currently at one of the lowest levels in years and you should take advantage of them now. Call me at 253-315-5580.
You've probably heard that it only makes sense to refinance your mortgage if the new interest rate is at least two percentage points lower than … (3 comments)
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payment: In Foreclosure? We are here to help. Save your home and equity! - 10/08/07 01:24 AM
STOPPING FORECLOSURES ACROSS AMERICA! WE WORK FOR YOU, NOT YOUR LENDER. We have been Saving Homes Across America and have over 15 years of combined experience saving homes for people like you. We are experienced Foreclosure Prevention Consultants working together to help you stop the foreclosure process and save your home. We specialize in out-of-court resolutions of government and non-government mortgage delinquencies and foreclosure claims against homeowners. These can be FHA, Rural Administration, VA, Freddie Mac, Fannie Mae, or conventional loans, which have become delinquent. Are you behind on your mortgage payments? Are you being threatened with eviction from your home? … (0 comments)
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payment: I am in Foreclosure. Now what? Tips for homeowners in trouble. - 10/07/07 11:40 PM
Q: What Happens When I Miss My Mortgage Payments?
Foreclosure may occur. This is the legal means that your lender can use to repossess (take over) your home. When this happens, you must move out of your house. If your property is worth less than the total amount you owe on your combined mortgage loans, you could be liable for the remainder even if it is foreclosed and taken from you.
Q: What Should I Do?
DO NOT IGNORE THE LETTERS FROM YOUR LENDER. If you are having problems making your payments, call or write to your lender's Loss Mitigation Department without … (4 comments)
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Jason Schweiger
Auburn,
WA
More about me…
Network Funding LP
Address: Auburn, WA, 98001
Office Phone: (253) 315-5580
Cell Phone: (253) 315-5580
Email Me
Puget Sound Mortgage Broker working hard for my clients in the entire Puget Sound region including Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton and more.
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