On January 21, 2010; the federal housing commissioner announced news about the increase in upfront premiums for FHA mortgage insurance. Effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront MIP or Mortgage Insurance Premium of 2.25%. This will be an increase of 0.50% from current MIP of 1.75%.
If you have any FHA questions please feel free to email me at: email@example.com
Executive Mortgage Banker