FHA Up-Front Mortgage Insurance Premium to Increase to 2.25%

FHA Home Loans are quickly becoming the best First Time Home Buyer Home Loan program available. FHA Mortgages offer low Mortgage Rates for home purchase or refinance. First Time Home Buyers can also take advantage of the $8000 First Time Home Buyer Tax Credit currently offered for anyone who hasn't owned a home for the past 3 years. If you currently have an FHA Home Loan, you can take advantage of the fast and easy FHA Streamline Refinance Loan to lower your payment today.

FHA UP-FRONT MORTGAGE INSURANCE PREMIUM TO INCREASE TO 2.25%

JANUARY, 2010

FHA Up-Front Mortgage Insurance Premium to Increase to 2.25%

FHA now insures close to 30% of all mortgages nationwide due to decreasing availability of traditional products. This has put a serious stress on the maximum limits of total FHA loans that can be insured. For that reason, FHA has been forced to raise capital reserves in order to be able to keep insuring more mortgages. This is the root cause of the increase in the FHA up-front mortgage insurance premium.

There is also talk of an increase in monthly mortgage insurance premiums, but nothing has been finalized yet.

January 20, 2010 13:34

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