FHA Mortgage Inusurance Premium is scheduled to increase on April 18th. HUD has announced effective with case numbers assigned on and after April 18, 2011 the Annual Premium will increase by 25 basis points. There are no changes to the Upfront Mortgage Insurance Premium (UFMIP).
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MORTGAGE INSURANCE PREMIUMS |
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Loans > 15 years |
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UFMIP= 100 bps |
Annual Premium |
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LTV |
Through 4/17/2011 |
On/After 04/18/2011 |
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< 95.00% |
85 bps |
110 bps |
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> 95.00% |
90 bps |
115 bps |
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Loans < 15 years |
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UFMIP = 100 bps |
Annual Premium |
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LTV |
Through 4/17/2011 |
On/After 04/18/2011 |
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< 90.00% |
None |
25 bps |
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> 90.00% |
25 bps |
50 bps |
For any questions about FHA Mortgage Insurance Premium, or how to qualify for a FHA home mortgage please contact Trish Cole NMLS 120968 with Community One Financial at tcole@communityonefinancial.com or www.trishcole.com.
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