Archive for April, 2011

FHA Mortgages Drop After Fee Hike

Wednesday, April 27th, 2011

Just got this update from my loan officer friend, Steve Johnson. FHA Mortgages Drop After Fee Hike An increase in FHA fees is being blamed for a sharp drop in mortgage applications for home purchases last week, according to the Mortgage Bankers Association. Home purchase mortgage applications fell 13.6 percent last week, to their lowest [...]

FHA Increasing Mortgage Insurance Premiums on April 18, 2011

Thursday, April 14th, 2011

I have received information that the mortgage insurance premiums that are required for FHA loans,where the loan to value is greater than 95%, are increasing to 1.5% effective April 18, 2011. According to Eddie Knoell, my mortgage friend who sent this information, this will affect your mortgage payment as follows: Example of old VS new [...]

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