Sunday, April 7, 2013

BRIEFING: Higher FHA Mortgage Insurance Fees For Longer As Of April 2013 | The Basis Point

In case you missed the announcement from FHA on mortgage insurance fees increasing, here it is again...

On Thursday, HUD announced that they’d be increasing FHA mortgage insurance fees as of April 1 and would be increasing the minimum time a borrower must hold mortgage insurance as of June 3.

The tables below summarize each set of changes.
FHA loan borrowers must have an FHA Case Number before these dates to fall under the present rules before these increases. To have a Case Number, borrowers must apply for a loan with a lender and that lender must formally disclose the loan per Federal disclosure rules.

Read more: BRIEFING: Higher FHA Mortgage Insurance Fees For Longer As Of April 2013 | The Basis Point


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