FHA mortgage insurance changes official

3Sep/100

FHA mortgage insurance changes official

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HUD has issued Mortgagee Letter 2010-28 changing the Upfront and Annual Mortgage Insurance Premiums effective with case numbers assigned on or after October 4, 2010 as follows:

Upfront Premiums

Loan Type	Upfront Premium Requirement
Purchase & Full Credit Qualifying Refinances	100 BPS
Streamline Refinances (all types)	100 BPS

Annual Premiums

LTV	Annual Premiums for Terms >15 Years
= or <95%	85 BPS
>95%	90 BPS

LTV	Annual Premiums for Terms =or <15 Years
= or <90%	None
>90%	25 BPS

These premiums are effective with case numbers assigned on or after October 4, 2010.

Tagged as: fha, georgia, home loans, mip, mortgage insurance, refinance, UFMIP Leave a comment

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30 Year Fixed	3.56%	3.61%
15 Year Fixed	2.87%	2.92%
5/1 ARM	2.34%	2.51%
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