Archive for March 30, 2010

FHA Increasing Up Front Mortgage Insurance Premium(MIP)

March 30, 2010 Leave a comment

Effective April 5, 2010, FHA loans which case numbers are assigned on or after April 5, 2010 will collect an upfront mortgage insurance premium(MIP) of  2.25 percent.  This policy change will increase premiums for purchase money and refinance transactions, including FHA-to-FHA credit-qualifying and non-credit qualifying  streamlined refinance transactions.

This is one of several changes FHA is implementing and please check back for updates.