Mortgage Insurance Policy Changes

By Valley West Mortgage 10 years agoNo Comments
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The Federal Housing Administration (FHA) is changing up-front and monthly Mortgage Insurance (MI) on FHA case numbers dated October 4, 2010 or later. Currently the up-front fee is charged at 2.25% and the monthly fee is based on term and LTV. The up-front fee is being reduced to 1%. The monthly fee is being increased. The matrix below gives the full breakdown:

Upfront Mortgage Insurance Premium (MI)

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