Cancelled!! FHA Mortgage Insurance is Going Down in 2017!!

By
Mortgage and Lending with www.DaveYourMortgageGuy.com, FHA, VA, USDA, HomePath, Jumbo NMLS #293883
http://actvra.in/4YGt

HUD HAS SUSPENDED THIS CHANGE!  Here is the link from HUD

 

The government(HUD) just made a huge announcement on FHA loans, the monthly mortgage insurance is going down. This is great news as this allows more buying power to those looking to purchasing a home.  Here are the specifics:

 

  1. For those loans with a loan to value of over 95% the monthly MI goes from .85% to .60% on a 30yr mortgage. This would benefit any home buyers who use the usual min down payment of 3.5%. On a home purchase of $250k this would save the buyer $50 a month off their payment!! And for loan to values of 95% and under the MI will go from .80% to .55%

  2. On 15 mortgages the MI will go from .70 to .50% when you are borrowing more than 90% of the home’s value. And when borrowing 90% and under the MI will go from .45% to .25%.

 

This change goes into effect for any loans closing on or after Jan 27th, 2017! 

Posted by

 

 

 

 

David Krichmar 

Mortgage Banker NMLS#293883 NMLS

Core Lending A Division of Goldwater Bank, NA- Mortgage Division

Branch NMLS#868672  GB NMLS#452955

Has Written For Realtor Magazine, Houston Agent Magazine, Scotsman Mortgage Guide

Appeared On Fox Business

 

Named 5 Star Mortgage Professional 2013, 2014, 2015, 2016

Named Top Mortgage Professional 2010,2011

Office:832-689-6012

David.Krichmar@gmail.com

www.DaveYourMortgageGuy.com

For More Mortgage Info Follow me at  Dave's Blog

 

If you are looking for a FHA, VA, USDA, Homepath, Conventional, Jumbo, Construction, FHA 203k mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, Richmond, Bellaire, West University, The Woodlands, Kingwood, Friendswood, Clear Lake, Galveston, Fulshear, Tomball, Spring, Conroe, Montgomery County or anywhere in Texas I am your GUY!  

 

And in these States: Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, , Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Washington and Wisconsin

 

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Topic:
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Location:
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Groups:
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Realtors Needing the services of the Lending Powers
The FHA Mortgage Group
FHA 203-k and FHA 203-k Streamline Loan Group
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

This is only the beginning of an assault on the benefits of home ownership.

Feb 08, 2017 02:42 PM #1
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