Wednesday, March 17, 2010

FHA Mortgage Insurance Going Up

April 3rd is the last day to get the cheaper financing rates for FHA loans. As of April 4th, MIP, or mortgage insurance, rises from 1.75% to 2.25%, for any application submitted for loan approval. Buyers have 75 days after application to go to settlement to have the lower rate apply. For the math challenged, that translates to $1,500 on a $300,000 note - almost reason enough to stop negotiating and make that offer.


Gowri on Jul 6, 2017, 9:52:00 AM said...

Thank you so much for posting like this. I enjoyed much more here. So please keep update like this.

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Varun Nithya on Sep 19, 2017, 7:36:00 AM said...

decent article which passed on a decent information.awaiting for more updates this way.
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