by Irene Moustakas | Jan 9, 2017 | Featured, FHA
UPDATE: THE REDUCTION IN FHA’S MORTGAGE RATES HAS BEEN SUSPENDED INDEFINITELY. In this rising interest rate environment, FHA will be passing along a little reprieve to home buyers and home owners that are securing financing through FHA. The annual insurance...
by Irene Moustakas | Jan 22, 2015 | Featured, FHA
FHA’s Mortgage Insurance premiums are set to reduce by .5% on January 26, 2015. The current insurance premium rate is 1.35%, so it will reduce to .85%. On a $500,000 loan amount (typical for the Bay Area), this translates to a savings of $208.33/month. Wow! Prior to...
by Irene Moustakas | Oct 23, 2013 | Featured, FHA
Although FHA (government-insured) loans are more expensive than Conventional, there are many reasons why homeowners and homebuyers go this route of financing. The most common is for its minimal down payment requirement, but there are other reasons. See below for a...
by Irene Moustakas | Mar 19, 2013 | Featured, FHA
There are less than two weeks before FHA Mortgage Insurance rates increase again! Here is a detailed chart of the new rate premiums, effective with Case Numbers ordered on or after April 1, 2013. If you can get that case # ordered now, do it! I have a client that put...
by Irene Moustakas | Feb 4, 2013 | FHA
They’re doing it again! FHA will be increasing Mortgage Insurance Premiums (MIP) by .10%. Currently, for a 30-year term mortgage with a loan amount of $625,500 or less, the annual MIP rate is: 1.25% when Loan-to-Value ratio is > 95% 1.20% when Loan-to-Value ratio...
by Irene Moustakas | Mar 8, 2012 | FHA
In the midst of rising costs for FHA and Conventional loans, we are finally seeing some relief with the FHA Streamline Refinance program. This does not go in effect until June 11, 2012, but that’s right around the corner! To qualify for the savings: You must be...