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F.H.A mortgage insurance changes

Posted on February 15, 2011 by Ray Williams (NMLS #216267).

F.H.A Announces important change

F.H.A announced yesterday that they are again increasing their mortgage insurance
premium’s to help maintain their capital reserves.

Mortgage Insurance Premiums

Loans > 15 years
UFMIP = 100 bps
Annual Premium

LTV
Through 4/03/2011*

≤ 95.00 percent – 85 Bps

> 95.00 percent – 90 bps
On/After 4/04/2011**
= 95.00 percent – 110 Bps

> 95.00 percent – 115 bps
Loans = 15 years
UFMIP = 100 bps

LTV
Through 4/03/2011*
> 90.00 percent – 25 bps
= 90.00 percent – None
On/After 4/04/2011**
= 90.00 percent – 25 Bps

> 90.00 percent – 50 bps

Effectively this will raise someone’s payment about $30-35 per month over what it would be today! May or may not be important depending on the client. But in today’s economy $30 can be important to qualifying for that home. Get your clients under contract and working with their lender to be protected.

For the direct link to HUD’s mortgagee letter on this go here

F.H.A Announces important change

F.H.A announced yesterday that they are again increasing their mortgage insurance premium’s to help maintain their capital reserves.

Mortgage Insurance Premiums

Loans > 15 years
UFMIP = 100 bps
Annual Premium

LTV
Through 4/03/2011*

= 95.00 percent – 85 Bps

> 95.00 percent – 90 bps
On/After 4/04/2011**
= 95.00 percent – 110 Bps

> 95.00 percent – 115 bps
Loans = 15 years
UFMIP = 100 bps

LTV
Through 4/03/2011*
> 90.00 percent – 25 bps
= 90.00 percent – None
On/After 4/04/2011**
= 90.00 percent – 25 Bps

> 90.00 percent – 50 bps

Effectively this will raise someone’s payment about $30-35 per month over what it would be today! May or may not be important depending on the client. But in today’s economy $30 can be important to qualifying for that home. Get your clients under contract and working with their lender to be protected.

For the direct link to HUD’s mortgagee letter on this go here

F.H.A Announces important change

F.H.A announced yesterday that they are again increasing their mortgage insurance premium’s to help maintain their capital reserves.

Mortgage Insurance Premiums

Loans > 15 years
UFMIP = 100 bps
Annual Premium

LTV
Through 4/03/2011*

= 95.00 percent – 85 Bps

> 95.00 percent – 90 bps
On/After 4/04/2011**
= 95.00 percent – 110 Bps

> 95.00 percent – 115 bps
Loans = 15 years
UFMIP = 100 bps

LTV
Through 4/03/2011*
> 90.00 percent – 25 bps
= 90.00 percent – None
On/After 4/04/2011**
= 90.00 percent – 25 Bps

> 90.00 percent – 50 bps

Effectively this will raise someone’s payment about $30-35 per month over what it would be today! May or may not be important depending on the client. But in today’s economy $30 can be important to qualifying for that home. Get your clients under contract and working with their lender to be protected.

For the direct link to HUD’s mortgagee letter on this go here

F.H.A Announces important change

F.H.A announced yesterday that they are again increasing their mortgage insurance premium’s to help maintain their capital reserves.

Mortgage Insurance Premiums

Loans > 15 years

UFMIP = 100 bps

Annual Premium

LTV

Through 4/03/2011*

= 95.00 percent – 85 Bps

> 95.00 percent – 90 bps

On/After 4/04/2011**

= 95.00 percent – 110 Bps

> 95.00 percent – 115 bps

Loans = 15 years

UFMIP = 100 bps

LTV

Through 4/03/2011*

> 90.00 percent – 25 bps

= 90.00 percent – None

On/After 4/04/2011**

= 90.00 percent – 25 Bps

> 90.00 percent – 50 bps

Effectively this will raise someone’s payment about $30-35 per month over what it would be today! May or may not be important depending on the client. But in today’s economy $30 can be important to qualifying for that home. Get under contract and work with your lender to be protected. If you need assistance let us know.

F.H.A Announces important change

F.H.A announced yesterday that they are again increasing their mortgage insurance premium’s to help maintain their capital reserves.

Mortgage Insurance Premiums

Loans > 15 years
UFMIP = 100 bps
Annual Premium

LTV
Through 4/03/2011*

= 95.00 percent – 85 Bps

> 95.00 percent – 90 bps
On/After 4/04/2011**
= 95.00 percent – 110 Bps

> 95.00 percent – 115 bps
Loans = 15 years
UFMIP = 100 bps

LTV
Through 4/03/2011*
> 90.00 percent – 25 bps
= 90.00 percent – None
On/After 4/04/2011**
= 90.00 percent – 25 Bps

> 90.00 percent – 50 bps

Effectively this will raise someone’s payment about $30-35 per month over what it would be today! May or may not be important depending on the client. But in today’s economy $30 can be important to qualifying for that home. Get your clients under contract and working with their lender to be protected.

For the direct link to HUD’s mortgagee letter on this go here

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