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You're Now Reading:
FHA Fees Going Up (and Down)
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
FHA Fees Going Up (and Down)
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
FHA Fees Going Up (and Down)
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

April 9, 2012 (Chris Moore)

Getting a mortgage loan insured by the Federal Housing Administration (FHA) just got a little more expensive today as new fees designed to help replenish the agency’s depleted reserves kick in today according to the Department of Housing and Urban Development (HUD)

The new fees include a higher upfront insurance premium charge, rising from one percent to 1.75 percent, and an increase of 10 basis points for annual mortgage insurance premiums.

Additionally, on June 1, 2011, the FHA is also raising the annual mortgage insurance premiums for loans over $625,000 an additional 25 basis points.

The FHA projects that the additional fees will contribute over $1 billion to its Mutual Mortgage Insurance (MMI) Fund which has been depleted by the large number of home owners who have defaulted on their mortgages.

However, the 10 basis point increase in the annual insurance premium won’t go into the FHA’s coffers, it’s part of the Temporary Payroll Tax Cut Continuation Act of 2011, the federal government’s way of giving new FHA borrowers the privilege of paying for the one-year reduction in Social Security Payroll taxes.

The good news is current FHA borrowers who took their loans out on or before May 31, 2009, and who wish to refinance their homes through the FHA’s streamline program will get a reduction in their fees.

Beginning June 11, 2012, the FHA will lower its upfront insurance premium to just .01 percent and reduce its annual premium to .55 percent. In order to qualify, borrowers must have made all of their last 12 payments.

Tags: FHA, HUD, mortgage loan, fees, insurance premium, upfront fees, mortgage insurance

Source:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

April 9, 2012 (Chris Moore)

Getting a mortgage loan insured by the Federal Housing Administration (FHA) just got a little more expensive today as new fees designed to help replenish the agency’s depleted reserves kick in today according to the Department of Housing and Urban Development (HUD)

The new fees include a higher upfront insurance premium charge, rising from one percent to 1.75 percent, and an increase of 10 basis points for annual mortgage insurance premiums.

Additionally, on June 1, 2011, the FHA is also raising the annual mortgage insurance premiums for loans over $625,000 an additional 25 basis points.

The FHA projects that the additional fees will contribute over $1 billion to its Mutual Mortgage Insurance (MMI) Fund which has been depleted by the large number of home owners who have defaulted on their mortgages.

However, the 10 basis point increase in the annual insurance premium won’t go into the FHA’s coffers, it’s part of the Temporary Payroll Tax Cut Continuation Act of 2011, the federal government’s way of giving new FHA borrowers the privilege of paying for the one-year reduction in Social Security Payroll taxes.

The good news is current FHA borrowers who took their loans out on or before May 31, 2009, and who wish to refinance their homes through the FHA’s streamline program will get a reduction in their fees.

Beginning June 11, 2012, the FHA will lower its upfront insurance premium to just .01 percent and reduce its annual premium to .55 percent. In order to qualify, borrowers must have made all of their last 12 payments.

Tags: FHA, HUD, mortgage loan, fees, insurance premium, upfront fees, mortgage insurance

Source:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

April 9, 2012 (Chris Moore)

Getting a mortgage loan insured by the Federal Housing Administration (FHA) just got a little more expensive today as new fees designed to help replenish the agency’s depleted reserves kick in today according to the Department of Housing and Urban Development (HUD)

The new fees include a higher upfront insurance premium charge, rising from one percent to 1.75 percent, and an increase of 10 basis points for annual mortgage insurance premiums.

Additionally, on June 1, 2011, the FHA is also raising the annual mortgage insurance premiums for loans over $625,000 an additional 25 basis points.

The FHA projects that the additional fees will contribute over $1 billion to its Mutual Mortgage Insurance (MMI) Fund which has been depleted by the large number of home owners who have defaulted on their mortgages.

However, the 10 basis point increase in the annual insurance premium won’t go into the FHA’s coffers, it’s part of the Temporary Payroll Tax Cut Continuation Act of 2011, the federal government’s way of giving new FHA borrowers the privilege of paying for the one-year reduction in Social Security Payroll taxes.

The good news is current FHA borrowers who took their loans out on or before May 31, 2009, and who wish to refinance their homes through the FHA’s streamline program will get a reduction in their fees.

Beginning June 11, 2012, the FHA will lower its upfront insurance premium to just .01 percent and reduce its annual premium to .55 percent. In order to qualify, borrowers must have made all of their last 12 payments.

Tags: FHA, HUD, mortgage loan, fees, insurance premium, upfront fees, mortgage insurance

Source:
HUD

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.