Lower FHA Mortgage Insurance Rates in 2015 – Bills.com – The new 2015 FHA MIP rates are 0.5% less than the previous rates. The new premium on a loan under $625,000 and a LTV over 90% is now 0.85% instead of 1.25%. Check out the cumulative savings based on a $200,000, 30-year FHA loan with a 3.5% down payment at 3.25%.
New FHA rule on mortgage insurance will spur refinancing. – George Lopez | January 14th, 2015 FHA Streamline Refinances Become Particularly Appealing. Seeking to build momentum heading into his State of the Union address, President Obama announced yesterday that FHA will reduce the annual mortgage insurance premiums (mip) that new borrowers pay on FHA loans by half a percent.
What you need to know about private mortgage insurance – This is the first thing you need to decide before you even begin to hunt for a new place to live. for buyers with as little as 3.5% down, and in 2015, the government reduced the annual FHA mortgage.
fha loan mip rules: A Reader Question – FHANewsBlog.com – FHA Loan MIP Rules: A Reader Question. A reader asks, "When calculating the annual PMI, are the bps assessed against the original loan amount or the current pay-off amount of the loan?" Assuming the reader is asking about annual FHA Mortgage Insurance Premiums, and not monthly private mortgage Insurance, it’s important to know the following:
*Revision to the Annual MIP Premium – as per Mortgagee Letter 2015-01. the new Annual Premium is reduced from 130 basis points (bps) to 80 basis points.
Rep. Waters Issues Statement on Mortgage Insurance for Condominiums – including reforms to FHA’s current policies on condominiums. "The Housing Opportunity Through Modernization Act included legislation that ranking member waters introduced in 2015 to increase.
The Nation’s Housing: New federal budget revives deduction for mortgage insurance for 2017 – Roughly 4.1 million owners took write-offs averaging more than $1,500 during 2015. tax deductions for mortgage-insurance premiums more than a decade ago, but legal authority for the write-offs.
· If your new loan is more than 80% of the home’s appraised value, you will have to pay private mortgage insurance (pmi). pmi is different in that it should be far less costly than the FHA MI you have been paying and-most important-you CAN drop PMI once you can show that the present value of your property gives you an 80% loan to value ratio.
Don't Be Fooled by the New FHA Mortgage Insurance Premiums. – Even though the FHA is reducing its mortgage insurance premiums, it’s still not the best option. Don’t Be Fooled by the New FHA Mortgage Insurance Premiums — The motley fool latest stock Picks