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Get Your Applications In : FHA Mortgage Insurance Premiums Rising 0.25 Percent April 18, 2011

By
Mortgage and Lending with Chris Brown | Certified Mortgage Planners NMLS 303797

 

FHA Mortgage Insurance Changes

After this week ends, the FHA is raising mortgage insurance premiums on its new Orlando borrowers. It's the FHA's third such increase in the last 12 months.

Beginning with FHA Case Numbers assigned April 18, 2011, mortgage insurance premiums will be higher by 25 basis points per year, or 0.25%.

Against a $200,000 loan size, the MIP increase....

 

Read the COMPLETE BLOG POST HERE:

Get Your Applications In : FHA Mortgage Insurance Premiums Rising 0.25 Percent April 18, 2011

Comments (2)

Kathy Denworth
BHHS Keys Real Estate - Islamorada, FL
Realtor in the Florida Keys, Islamorada, Key Largo

Isn't it great? The people who rely on FHA loans are those that can least afford to pay higher premiums. On the other side of the coin, if they have to pay out a bunch of claims, the system should fund itself.

Apr 14, 2011 01:59 AM
Eric Garrison
The Maine Real Estate Network - Waterboro, ME
Realtor, CDPE - The Maine Real Estate Network

I for one hope the system dries up and goes away. It's already going to take a lot of deserving people out of the game. It's a shame! Lots of money to bail out the banks with nothing in return! We do have a local lender here in Maine that has an in house loan that competes with FHA....don't require 1%....oh, and no MI.....I hope more lenders follow! Have a great day guys!

Apr 14, 2011 02:26 AM