Tuesday, October 5, 2010

FHA Mortgage Insurance Premium

As of yesterday, the Federal Housing Administration has changed its mortgage insurance fee structure.  Any FHA-insured loans originated on or after October 4, will now have to pay an annual premium of 0.9% of the loan amount from 0.55%. At the same time, the upfront mortgage insurance premium will now be lowered to 1% of the loan amount from 2.25%.
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