Beginning Monday, June 11, the FHA is changing its mortgage insurance premium schedule for the second time this year.
Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today.
Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their existing FHA mortgage into a new one, without having to pay the government-backed group’s new, costly mortgage insurance premium schedule.
Beginning April 1, 2012, the FHA is once again raising its mortgage insurance premiums.
Beginning with FHA Case Numbers assigned April 18, 2011, mortgage insurance premiums will be higher by 25 basis points per year, or 0.25%.
Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.