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FHA Mortgage Insurance Premiums

Reblogger Katrina Cole

Mortgage and Lending with The Jonathan Arnold Team of Inlanta Mortgage

March 25, 2010 05:33 AM

Very Important Update for FHA lenders and loan applicants on "upfront mortgage insurance premiums":

"Lenders are reminded that effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront mortgage insurance premium of 2.25 percent, rather than 1.75% currently. This policy change will increase premiums for purchase money and refinance transactions, including FHA-to-FHA credit-qualifying and non-credit qualifying streamlined refinance transactions. For more detailed information on this premium increase, please see Mortgagee Letter 2010-02 at: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/10-02ml.pdf "

FHA aplicants should make every effort to have their lender order case numbers early in the week of March 29, 2010, since it is possible that case numbers requested on Friday or Saturday may not be assigned prior to April 5, 2010, and therefore, be subject to the higher premium.

For more information feel free to contact me:

Anthony Mosley

616-974-9209

amosley@vandykmortgage.com

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Anonymous

Faaui Hunkin

Hi, my finacee and I are very confusing with this mortgage credits going on. We really need some help to make the right decision beacuse we do want to take the opportunity to buy our first home together.

Thanks so much.

Apr 06, 2010 01:04 AM

Katrina Cole

The Jonathan Arnold Team of Inlanta Mortgage - East Grand Rapids, MI

Inlanta Mortgage, Business Development Manager

Faaui, all these changes are very confusing especially as a first time home buyer. That is why it is important to work with a Lender and an Agent that will educate you through the process so you feel comfortable with the transaction. Buying a home is exciting but very stressful so having a "team" behind you will make things much smoother. Please feel free to contact me anytime via email or phone.

Have a great day!

Apr 08, 2010 03:31 AM

FHA Mortgage Insurance Premiums

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Katrina Cole

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	Katrina Cole Business Development
	Inlanta Mortgage, Inc 2029 Celadon Dr NE Grand Rapids, MI 49525

	Office/Fax:	(616) 682-6839
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	Email:	katrinacole@inlanta.com
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