Here we go again! FHA mortgage insurance rates will be changing effective October 1st (bet you're getting used to hearing "changing" by now, huh??) But, before I post up the new ... I wanted to post what the CURRENT rates are for reference. (Stay tuned for the update to follow soon so be sure to subscribe to my posts for the update!)
|
FHA Single Family Mortgage Insurance
Upfront and Annual Mortgage Insurance Premiums
(Loan Terms < 15 years)
Effective as of July 14, 2008
|
|
Decision Credit Score
|
|
LTV
|
850-680
|
679-640
|
639-600
|
599-560
|
559-500
|
499-300
|
Non-Traditional
|
|
<
90 |
Upfront
1.00%
----------
Monthly
No monthly
|
Upfront
1.00%
----------
Monthly
No monthly
|
Upfront
1.25%
----------
Monthly
No monthly
|
Upfront
1.50%
----------
Monthly
No monthly
|
Upfront
1.75%
----------
Monthly
No monthly
|
Upfront
1.75%
----------
Monthly
No monthly
|
Upfront
1.50%
----------
Monthly
No monthly
|
|
90.01-95.00
|
Upfront
1.00%
----------
Monthly
.25%
|
Upfront
1.25%
----------
Monthly
.25%
|
Upfront
1.50%
----------
Monthly
.25%
|
Upfront
1.75%
----------
Monthly
.25%
|
Upfront
2.00%
----------
Monthly
.25%
|
N/A
|
Upfront
1.75%
----------
Monthly
.25%
|
|
> 95
|
Upfront
1.25%
----------
Monthly
.25%
|
Upfront
1.50%
----------
Monthly
.25%
|
Upfront
1.75%
----------
Monthly
.25%
|
Upfront
2.00%
----------
Monthly
.25%
|
Upfront
2.00%
----------
Monthly
.25%
|
N/A
|
Upfront
2.00%
----------
Monthly
.25%
|
|
FHA Single Family Mortgage Insurance
Upfront and Annual Mortgage Insurance Premiums
(Loan Terms > 15 years)
Effective as of July 14, 2008
|
|
Decision Credit Score
|
|
LTV
|
850-680
|
679-640
|
639-600
|
599-560
|
559-500
|
499-300
|
Non-Traditional*
|
|
<
90.00 |
Upfront
1.25%
---------
Monthly
.50%
|
Upfront
1.25%
---------
Monthly
.50%
|
Upfront
1.25%
---------
Monthly
.50%
|
Upfront
1.50%
---------
Monthly
.50%
|
Upfront
1.75%
----------
Monthly
.50%
|
Upfront
1.75%
---------
Monthly
.50%
|
Upfront
1.50%
------------
Monthly
.50%
|
|
90.01-95.00
|
Upfront
1.25%
---------
Monthly
.50%
|
Upfront
1.25%
---------
Monthly
.50%
|
Upfront
1.50%
---------
Monthly
.50%
|
Upfront
1.75%
---------
Monthly
.50%
|
Upfront
2.00%
----------
Monthly
.50%
|
N/A
|
Upfront
1.75%
----------
Monthly
.50%
|
|
> 95
|
Upfront
1.25%
---------
Monthly
.55%
|
Upfront
1.50%
---------
Monthly
.55%
|
Upfront
1.75%
---------
Monthly
.55%
|
Upfront
2.00%
---------
Monthly
.55%
|
Upfront
2.25%**
----------
Monthly
.55%
|
N/A
|
Upfront
2.00%
----------
Monthly
.55%
|
|
* Follow Non-Traditional credit/Insufficient credit underwriting guidelines published in Mortgagee letter 2008-11
** A first time homebuyer, with HUD approved counseling, will pay only 2.00% for the up-front mortgage insurance premium.
|
Views and opinions expressed on this site are not necessarily those of WR Starkey Mortgage.
Ruth Vogt
Colorado LMB #LMB100023827
;)
;)
I guess that is what they feel they have to do to keep up! Thanks for the info:)