FHA PMI Changes 10/4/2010
August 13, 2010 by Eleanor
Filed under FHA Mortgage Loans
For about the 5th time in the last 36 months FHA is changing the way it charges Mortgage Insurance. While this is a pretty major shift in the Way Mortgage Insurance is calculated for FHA, it’s only about a net $20 per $100K borrowed difference. HISTORY of FHA’s PMI (Mortgage Insurance) First off, it’s not [...]
DRATS! FHA is Getting More Expensive!
June 15, 2010 by Eleanor
Filed under FHA Mortgage Loans
As we reported in April, Washington is trying to offset the costs of FHA foreclosures… and so it appears that FHA mortgage Loans are going to get more expensive. Many folks don’t realize that FHA doesn’t really MAKE loans… they just INSURE them. Last week, the House of Representatives gave the FHA power to raise [...]
FHA PMI update
October 20, 2008 by Eleanor
Filed under FHA Mortgage Loans
This is an update to an earlier post reagarding FHA’s version of Mortgage Insurance (which is sometimes referred to as PMI). As we mentioned, FHA mortgages have a one-time mortgage insurance premium, known as upfront mortgage insurance. The cost of this insurance has bounced around alot this year – and is NOW 2.25% of the [...]