FHA Steamline Refinance Charts
George thanks for the charts I had not seen one until on of my lenders sent me one earlier this week. FHA financing just got a little more expensive
News about the FHA Upfront Premium and Monthly Mortgage Insurance (MI) going up is not new, there have been several blogs written about this already. However, what I have not seen is anyone provide a quick reference chart that can be printed and kept on hand. So I have put together a chart to do just that, and hope that others find it as useful as it will be for me.
Starting next month any FHA Case Numbers that are ordered on or after April 9th will be subject to the UpFront Premium and MI shown in the chart below.
Starting in June all FHA Loans in Connecticut for a FHA Mortgage greater than $625,500 that the FHA Case Numbers is ordered on or after June 11th will be subject to the UpFront Premium and MI shown in the chart below.
Note: Terms greater than 15 years regardless of Loan To Value (LTV) will have annual (monthly) premiums for the greater of five years or until the amortized LTV reaches 78%. Tor 15 year terms the annual (monthly) premium will be due until the LTV reaches 78%
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
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