Highlights and Features of FHA Financing

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...

Final Days to Lock In on Lower FHA MI Rates

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...

FHA Increasing Mortgage Insurance Rates Again

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...