Today: FHA upfront premiums rise for mortgage insurance

April 5th, 2010

Written by Greg Frost Jr.

Categories: Mortgage / Credit, Mortgage Approval Process, Mortgage Banker News, Mortgage Guidelines, Mortgage News, Mortgage Programs, Real Estate News

The Department of Housing and Urban development is reminding the mortgage industry that, starting today (April 5, 2010), an upfront mortgage insurance premium of 2.25 percent will be collected “for purchase money and refinance transactions, including FHA-to-FHA credit qualifying and non-credit qualifying streamlined refinance transactions.”

HOPE for Homeowners and Home Equity Conversion Mortgages will be charged a 2 percent premium, according to Mortgagee Letter 2010-02.

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This entry was posted on Monday, April 5th, 2010 at 2:37 pm and is filed under Mortgage / Credit, Mortgage Approval Process, Mortgage Banker News, Mortgage Guidelines, Mortgage News, Mortgage Programs, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.