Tag: Mortgage Insurance Premiums
FHA Offers Lower Mortgage Insurance Premiums To New Borrowers In 2015
New FHA mortgage borrowers in 2015 will be offer a reduced Mortgage Insurance Premium (MIP). This is the first time that the Federal Housing Administration (FHA) has reduced its MIP for its borrowers since 2001. It has been a long time coming for many interested home buyers and millennials who have been hesitant on committing […]
How to Submit FHA Case Number Cancellation Requests
Just a week ago, the President made an announcement in regards to reduced FHA Mortgage Insurance Premiums (MIP) along with temporarily allowing for lenders to cancel case numbers on loans issued on and after January 26, 2015. FHA has reduced its Mortgage Insurance Premium (MIP) by as much as 0.50%, making it even more affordable […]
Initial Steps Towards FHA Mortgage Insurance Premium Removal
FHA’s mortgage insurance premiums (MIP) are rising preventing you from being able to save for all your other financial obligations. It is time to take the initiative steps in having it removed, but first, there are a few steps and precautions you must take to ensure that the process can go smoothly. Before you put […]
Rising MIP Affecting FHA Mortgage Loans
The FHA at one point in time was more appealing to a wider range of homeowners with their easier credit standards, lower down payment requirements (as little as 3.5%) and their acceptance of an LTV (Loan-to-Value) of 96.5% in all mortgage type properties. FHA Mortgage Insurance Premiums are getting way too high for current FHA […]
