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FHA Mortgage Insurance to Change 4-1-2012

Posted on February 29, 2012 by Ray Williams (NMLS #216267).

HUD Press Release

So that would make FHA Mortgage insurance structure:

UFMIP 1.75% on ALL loans (currently 1%) – This is the amount financed into your loan as upfront mortgage insurance on all FHA mortgages

+”Annual” (paid monthly):

terms > 15 years

LTV > 95: 125 bps

=<95LTV: 120 bps
terms =< 15 years

LTV > 90: 60 bps

=<90LTV: 35 bps

This still leaves the 90% (Loan To Value) 15-year fixed rate as the best of FHA structures. As an average estimated increase to your monthly payment on a $200,000 mortgage will be about $20-$25 per month.

Call now or apply online to get in before the change occurs. Grandfather yourself in!

Ray Williams, Branch Manager, Summit Home Mortgage, Denver

303-779-0591 x101, rwilliams@summit-mortgage.com

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