FHA Mortgage Insurance will increase for all case numbers assigned on or after April 1st, 2012.
Upfront premiums (UFMIP) will increase by .75 percent to a total of 1.75 percent.
Annual mortgage insurance premiums (MIP) "monthly" will increase by .10 percent, to a total of 1.20-1.25 percent depending on the LTV, for loans amounts up to $625,000.00, and by .35 percent for loan amounts above $625,000.00.
Make sure your borrowers are still pre approved at these higher premiums, and avoid any last minute surprises.
Call me today and I can get your case numbers assigned before the increase takes effect.
Senior Mortgage Advisor MLO 204076
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
