New FHA MIP Fee Changes

 

 

visit my website     email me now Theron Wall Branch Manager 3615 Crossings Dr, Suite A Prescott, AZ 86305 Phone: (928) 778-7167 Mobile: (928) 533-7473 Fax: (928) 445-5308 September 27, 2010 Inside Lending Bulletin New FHA MIP Fee Changes Take Effect October 4th Up Front MIP will decrease from 2.25% to 1% Annual MIP will increase from .50/.55 to .85/.90 for terms greater than 15 yrs FHA will make the premium fee changes on all new case numbers effective October 4, 2010. (In order to avoid the Annual MIP increase, your buyers will need an FHA case number assigned before October 4th.) We are waiting to hear about changes to seller contribution limits. We will issue a Bulletin as soon as FHA makes the announcement. Thanks! This e-mail is an advertisement that was sent to you because of your relationship with Theron Wall. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of Wallick & Volk Mortgage and cannot be reproduced for any use without prior written consent. Wallick & Volk Mortgage is an Equal Housing Lender. BK 0018295 NMLS #256412