Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.
* Disclaimer – all information in this article is accurate as of the date this article was written *
The FHA Mortgage Insurance Premium is an important part of every FHA loan.
There are actually two types of Mortgage Insurance Premiums associated with FHA loans:
1. Up Front Mortgage Insurance Premium (UFMIP) [...]
The VA Funding Fee is an essential component of the VA home loan program, and is a requirement of any Veteran taking advantage of this zero down payment government loan program.
This fee ranges from 1.25% to 3.3% of the loan amount, depending upon the circumstances.
On a $150,000 loan that’s an additional $1,875 [...]
Mortgage Insurance, sometimes referred to as Private Mortgage Insurance, is required by lenders on conventional home loans if the borrower is financing more than 80% Loan-To-Value.
According to Wikipedia:
Private Mortgage Insurance (PMI) is insurance payable to a lender or trustee for a pool of securities that may be required when [...]
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.
Mortgage Questions?
Follow Us On Twitter
- Existing Home Sales Climb 3.4 Percent In April http://t.co/0f4pUzQB
- Home Affordability Reaches New High In Q1 2012 http://t.co/bB0EhV1c
- Whatâs Ahead For Mortgage Rates This Week : May 21, 2012 http://t.co/dKAkp4Ws
- Is More Fed-Led Stimulus On Its Way? http://t.co/ryrOVWWj
- Single-Family Housing Starts Powers Ahead http://t.co/1b1pgrgO
Mortgage Calculator
$ % yrs % $ Mortgage Disclosures
This is not an offer to lend. All approvals are considered based on current guidelines.
⇒ Read Full Disclosure
















Guaranteed Rate 3940 N. Ravenswood Ave. Chicago, IL 60613 800.921.2430