USDA Loans

USDA Upfront Guarantee Fee Increases Oct 1 2015

Posted Leave a commentPosted in Loan Progams, Mortgage Knowledge, USDA loans

Today is the day that the USDA Upfront Guarantee fee will be increasing to 2.75% The Annual (monthly) fee will remain at .5% The information below  is a re-post of a previous article on this website. It shows the  breakdown of the changes and how USDA compares to VA, FHA and Conventional financing.   USDA […]

USDA Loans

USDA Loan Guarantee Fee Increase- UPDATE!

Posted Leave a commentPosted in Community information, USDA loans

USDA Loan Guarantee Fee Increase UPDATE ISSUED- TAKE A LOOK AT THIS POST. Effective October 1st, the USDA loan guarantee fee will be increasing from 2% to 2.75% for the upfront premium.  The USDA loan guarantee monthly premium will remain at .5%. The upfront USDA loan guarantee fee is the equivalent of FHA’s upfront mortgage […]

FHA Mortgage Insurance

Posted Leave a commentPosted in FHA Loans, Loan Progams, Mortgage Knowledge

2015 FHA Mortgage Insurance The one thing you can count on when it comes to the mortgage industry is change.  Change in mortgage interest rates, change in loan guidelines, change in loan programs, etc.  Changes in FHA Mortgage Insurance are no exception. Today marks a milestone for FHA Mortgage insurance premiums.  Effective with case numbers […]

No, not an April Fools joke-Changes to FHA Mortgage Insurance

Posted Leave a commentPosted in Buyer Tips and Advice, FHA Loans, Loan Progams, Mortgage Knowledge

No, not an April Fools joke. Changes to FHA Mortgage Insurance are effective today, April 1, 2013 The changes to both the length and amount of the annual Mortgage Insurance were announced in Mortgagee Letter 2013-04. There changes FHA Mortgage Insurance are being released in two stages.   The first batch of changes will apply to […]

Savings fly away

FHA Streamline Refinances and FHA MI changes for 2013

Posted Leave a commentPosted in FHA Loans, Mortgage Knowledge

The changes coming to FHA annual MIP (monthly mortgage insurance) for 2013 will not affect some FHA Streamline Refinances. HUD announced in Mortgagee Letter 2013-04 that changes will be coming to the amount of monthly mortgage insurance on FHA loans as well as the duration of the mortgage insurance. Fortunately, the changes to the monthly mortgage insurance terms will not […]

FHA Mortgage Insurance for 2013

Posted Leave a commentPosted in FHA Loans, Mortgage Knowledge

HUD announced that big changes are coming to the FHA Mortgage Insurance terms. The upcoming changes to both the Upfront Mortgage Insurance Premium and the annual MIP were announced inMortgagee Letter 2013-04. There are two deadlines we all need to be aware of affecting the new terms for FHA Mortgage Insurance. The first batch of […]