current mortgage insurance rates: Big Changes coming to FHA Mortgage Insurance
- 02/25/13 07:01 AM
HUD announced that big changes are coming to the FHA Mortgage Insurance terms. The upcoming changes to both the lenght and amount of the annual MIP were announced inMortgagee Letter 2013-04. There are two deadlines we all need to be aware of affecting the new terms for FHA Mortgage Insurance. The first batch of changes will apply to all FHA case numbers issued on or after April 1, 2013. After that date, the annual MIP (amount that a borrower pays on a monthly basis) will increase by 5 to 10 basis points depending on the loan to value, term of the loan … (0 comments)
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Laura Borja is an experienced Mortgage Consultant covering the San Diego and south Riverside Counties. Laura Borja is an experienced Mortgage Consultant covering the San Diego and south Riverside Counties. Loan Programs available include: FHA loans, VA loans, USDA home loans, First Time Home buyer programs as well as conforming and Jumbo conventional loans.
HUD announced that big changes are coming to the FHA Mortgage Insurance terms.
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