refinance fha loans: FHA MI Changes for 2013 will not affect some streamline refinances
- 02/27/13 02:14 AM
The changes coming to FHA annual MIP (monthly mortgage insurance) for 2013 will not affect some FHA Streamline Refinances. HUD announced in Mortgagee Letter 2013-04 that changes will be coming to the amount of monthly mortgage insurance on FHA loans as well as the duration of the mortgage insurance. Fortunately, the changes to the monthly mortgage insurance amount will not affect FHA Streamline Refinances that were endorsed on or before May 31, 2009. Homeowners who have an FHA mortgage that was endorsed on or before May 31, 2009 will continue to benefit from the much lower upfront mortgage insurance premium as well as the … (1 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.
The changes coming to FHA annual MIP (monthly mortgage insurance) for 2013 will not affect some FHA Streamline Refinances. 
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