FHA MORTGAGE INSURANCE PREMIUMS CHANGE ON OCTOBER 1, 2008
Effective with new FHA case number assignments on or after that date, FHA will no longer base its mortgage insurance premiums on a combination of credit bureau score and loan-to-value ratio. The new premiums (upfront and annual) to be implemented for all loans for which a case number is assigned on or after October 1, 2008, are set forth in the Mortgagee Letter which may be viewed at:
http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/08-22ml.doc
Upfront premiums: 1.75%
Annual premiums: .5 % for LTV less than 95% and .55% for LTV more than 95%.
Contact your lender if you have questions on the changes.

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