FHA to raise insurance premiums in April

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Effective April 18th 2011, the FHA will raise the annual mortgage insurance premiums by "25 basis points" (or one quarter of a percent of the total value of the loan) for.

What’s more, Galante refers to the $1.7 billion figure as an estimate’ because the agency recently implemented measures to increase its revenues, including requiring most homeowners with FHA-backed.

It’s the FHA’s fourth such increase in the last two years. Beginning April 1, 2012, upfront mortgage insurance premiums will be higher by 75 basis points, or 0.75%; and annual mortgage insurance premiums will be higher by 10 basis points per year, or 0.10%.

Under Public Law 111-229(1)(b), FHA may adjust its mortgage insurance premium rates, as measured in basis points (bps), by Mortgagee Letter. The first table shows the previous and the new annual mip rates by amortization term, base loan amount and LTV ratio. All MIPs in this table are effective for case numbers assigned on or after April 1, 2013.

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Mortgage insurance rates. between April and June. Do I have to pay? Most homebuyers who are unable to put down at least 20 percent of the cost of a house have to pay mortgage insurance, whether the.

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The annual fee on the majority of FHA loans will rise by 0.1 percent on April 1. This marks the third time the FHA has increased its mortgage insurance premiums in two years. And since 2008, the fee has nearly tripled. Some borrowers are rushing to beat the April 1 deadline. The fha premium hikes are part of an effort by the agency to increase.

giving FHA the ability to raise annual premiums from 0.55% to 1.55%. According to FHA, the higher premiums will add approximately $300 million per month in value to the Mutual Mortgage Insurance Fund.

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