FHA Loans Announcement: Increase in upfront premiums for FHA mortgage insurance starts April 5, 2010

By
Mortgage and Lending with Nima Rezvan Prospect Mortgage NMLS#110681

 FHA UPDATE  FHA UPDATE

On January 21, 2010; the federal housing commissioner announced news about the increase in upfront premiums for FHA mortgage insurance.  Effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront MIP or Mortgage Insurance Premium of 2.25%.  This will be an increase of 0.50% from current MIP of 1.75%.

If you have any FHA questions please feel free to email me at: nima@concorde.bz

Nima Rezvan

Executive Mortgage Banker

Blackberry: 203.913.6016

Email: nima@concorde.bz

Website: http://www.NimaLoans.com

 

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Rainmaker
248,431
Michele Connors
The Overton Group, LLC & CB First Realty - Greenville, NC
Your Eastern North Carolina Realtor

Hey Nina !  Cant you stop in and tell us some good news ! Lets get that money flowing again, seems each change that comes along puts another nail in the home buying coffin !

Jan 30, 2010 08:10 AM #1
Rainmaker
293,167
Philip Turner
MCCUE MORTGAGE COMPANY - New London, CT
Mortgage Banker Since 1980

If this helps keep FHA flush this is OK with me.  The difference on a $200,000.00 mortgage will be $1,000.00 or $5.35 per month at 5% on a 30 year fixed rate mortgage.  That is not a lot of money per month when people go to Starbucks and spend $4.00 + on a cup of coffee.

Thanks for the update.

Jan 30, 2010 04:26 PM #2
Rainmaker
642,410
Adam Malachi
RLO Millennium Real Estate and Mortgage. - Castle Rock, CO
QSC,CDPE,CIPS,CNE,CRB,CRS,GRI,MRE,SFR

Excellent post! Very good information's!

Thanks for sharing,

Adam

May 19, 2010 04:43 PM #3
Rainmaker
135,139
Luke Constantino
Brooklyn, NY
Remax New York

"Excellent post! Very good information's!"

Hahahahaha! You still here Nima? Put up a post already!!!

Jan 06, 2011 02:38 PM #4
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Rainmaker
495,031

Nima Rezvan

First Time Home Buyer Expert - CT FHA Loans - FHA 203k - CT Mortgage
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