FHA Mortgage Premium Increase

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Real Estate Agent with Realty Group Referrals 16766
https://activerain.com/droplet/wrh

FHA Mortgage Premium Increase 

Announcement

FHA has just announced they are raising insurance premiums as follows (effective April 1st):

(We assume it will apply to case numbers assigned on or after April 1st.)

The increases are as follows: 

10 basis point increase in annual premium for single family forward mortgages (1.25% annual premium) 

25 basis point additional increase for loans above $625,500  ( to 1.5% annual premium) 

 Increase the upfront premium on new originations by 75 basis points to 1.75%

 (No changes to reverse mortgages)

 This information was provided by Joe Salisbury at Presidential Bank Mortgage  in Gaithersburg, Maryland.  Please call Joe at 301-590-8911 ext. 209 if you have questions. RE/MAX Realty Group has an affinity agreement with Presidential Bank Mortgage, a preferred mortgage lender.

 

There is much to see and much to do in Maryland.  Be sure to have your camera in hand to capture the special moments when you are out and about in your community or during your travels.

Hibiscus,Longwood Gardens Conservatory IMG_4134

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Posted by

Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

Topic:
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Location:
Maryland Montgomery County
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Rainer
284,191
Keith Gilkey
Re/Max Chesapeake - Elkton, MD
410-920-7214, Re/Max Chesapeake

Roy, Nice reminder on the FHA increases and a great photo. have a great day!

Feb 27, 2012 11:42 PM #1
Ambassador
2,302,041
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Roy,  The last thing we need is more fees on FHA loans.  darn! I understand why they need to do this but I sure don't welcome it.

Feb 28, 2012 12:08 AM #2
Rainmaker
5,347,759
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We will be seeing increased fees with many of the mortgage loan products.  Those that purchase now have the opportunity to avoid some of the higher costs.

Longwood Gardens Orchid Extravaganza IMG_4025

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Feb 28, 2012 12:14 AM #3
Ambassador
2,079,719
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Great information AND beautiful photos.............who can resist a reblog?

Feb 28, 2012 12:31 AM #4
Ambassador
1,497,536
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

 I don't look forward to this change but nothing we can do about it.

Feb 28, 2012 01:01 AM #6
Rainer
308,074
Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

.75 to 1.75 points for a new origination fee is a lot of money!  And to think loan officers still charge those 2 points on the back end, that will be almost 4 points for the entire cost of the loan!  Highway robbery!

Feb 28, 2012 01:09 AM #7
Rainmaker
2,050,765
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Hi Roy,

Thanks for the information. I printed it so I would not forget.

Feb 28, 2012 01:18 AM #8
Rainmaker
5,347,759
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for stopping by.  Home buyers need to be advised of the changes that will increase their costs.

Longwood Gardens Orchid Extravaganza IMG_4023

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Feb 28, 2012 01:27 AM #9
Rainmaker
841,108
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Hi Roy.

Great information and a beautiful flower.

Have a nice day and productive day.

Feb 28, 2012 01:39 AM #10
Rainmaker
5,347,759
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have some unusually cold weather in Maryland. Have a wonderful weekend.

Apr 09, 2016 05:50 AM #11
Rainmaker
5,347,759
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Make is a habit to post a reblog every day. It is an easy way to pay it forward.

Feb 14, 2019 11:32 AM #15
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Rainmaker
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Roy Kelley

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