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Mortgage Insurance Premiums Increasing!

If you are purchasing a home this spring make sure that you make that you make loan application and receive an FHA case number prior to April 18, 2011.  The annual mortgage insurance is increasing. 

If you have been approved for a loan make sure you talk to your lender about the increase in payment to make sure you still can afford the monthly payment!

Loans > 15 years

UFMIP = 100 bps Annual Premium



LTV Through 4/17/2011*

On/After 4/18/2011**

≤ 95.00 percent

85 bps 110 bps

> 95.00 percent

90 bps 115 bps

Loans = 15 years

UFMIP = 100 bps Annual Premium

LTV Through 4/17/2011*

On/After 4/18/2011**

= 90.00 percent None

25 bps

> 90.00 percent 25 bps

50 bps

*For case numbers assigned on/before April 17, 2011

**For case numbers assigned on/after April 18, 201

The increase in the annual mortgage insurance will increase the monthly payment on a $163,000 mortgage $33 a month!

Posted by Dan Latimer on February 23rd, 2011 7:10 AMPost a Comment (0)

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