ufmip: FHAs Mortgage Insurance Premiums all in one "easy to read" chart - 04/05/12 01:04 PM
 
We are just a few days away from the new FHA Mortgage Insurance Premiums kicking in. The chart below is about as neat and clean as it can get for showing the FHA monthly(annual) and Up Front Mortgage Insurance Premiums.  June's change has some good, allowing streamline refinance transactions (where their previous loan was endorsed prior to 5/31/2009) to default to the old MIP, which can be a significant savings.
 
CASE NUMBERS ISSUED BEGINNING APRIL 18, 2011 UP TO APRIL 8, 2012
All Loans – Purchase, Refinances, All Streamline Refinance
 
 
 
Have a great week!
Rob
(4 comments)

ufmip: HEADS UP -- FHA INCREASING UPFRONT AND MONTHLY MIP - 02/28/12 06:51 AM
 
Listed below is a news release about the upcoming changes.   The mortgagee letter is not yet out – so there might be more changes – but here are the highlights:
 
·         Upfront MIP is increasing by ¾% to 1.75% on all loans
·         Monthly MIP will now be split into 2 categories – with $625,500 being the benchmark for the change
o   .10% for loans at or below $625,500
o   .35% for loans at or above $625,501 
 
The changes will be effective on and after 4/1/12 – with another update occurring on 6/1/12.   I believe the 2nd … (6 comments)

 
Robert Rauf (HomeBridge Financial Services (NJ)) Rainmaker large

Robert Rauf

Toms River, NJ

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HomeBridge Financial Services (NJ)

Address: 16 Madison Ave, Building 2 Suite 2D, Toms River, NJ , 08753

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Office: 732(557) 692-0102

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The mortgage market is ever changing, do not be afraid to ask what is new!


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