FHA to increase mortgage insurance premiums one quarter of one point

The current mortgage insurance premium (MIP) is 0.85%, but the FHA’s move will lower premiums by one-quarter of a percent to 0.60%. This decision is meant to make FHA loans a more popular option for home buyers. Click for a free FHA rate quote. sizable drop In Mortgage Insurance Premium

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One Hour After Taking Office, Trump Suspends FHA Mortgage Fee Cut.. The Obama administration announced last week it would cut the insurance premium by a quarter of a percentage point to 0.60 percent, effective on Jan. 27.. This makes FHA one of the best loan programs available.

The increased mortgage insurance costs are part of the Temporary Payroll Tax Cut Continuation Act of 2011, which requires FHA to increase the annual MIP. As stated previously, the FHA Up Front Mortgage Insurance Premium is also affected; the current rate of one percent will increase to 1.75 percent of the base loan amount.

FHA annual mortgage insurance premiums will increase by one-quarter per cent on April 18 th, 2011 according to FHA’s Commissioner, David Stevens. The most recent FHA mortgagee letter says that the up-front mortgage insurance premium which is usually financed in a real estate transaction will remain the same at one per cent.

The Federal Housing Administration announced that it will be increasing its annual mortgage insurance premium one quarter of one point on all 15-year and 30-year mortgages backed starting April 18 th. The insurance increase is in response to a congressional mandate that gave the FHA permission to increase premiums and keep its insurance fund liquid.

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The FHA will insure a mortgage, in the event a borrower defaults on a loan the. The upfront premium is 1.75 basis points (1.75&) of the loan amount and is rolled into. Administration was created to help increase homeownership in America.

FHA to increase mortgage insurance premiums by .250% – The Federal Housing Administration is increasing its annual mortgage insurance premium one quarter of one point on all 15-year and 30-year mortgages backed by the agency. The hike is in response to a congressional mandate that gave the FHA permission to increase premiums and keep its insurance fund liquid.