FHA Home Buyer ALERT: Mortgage Insurance Premiums Increase April 2012

FHA

FHA MIP ALERT: Mortgage Insurance Premiums Increase April 2012.

The FHA Upfront Mortgage Insurance Premium will go up .75% from it’s current 1% of the loan amount to 1.75%. This increase applies regardless of term or loan to value, which includes 15 year fixed FHA home loans.

The FHA Annual Mortgage Insurance Premium will go up .10% from it’s current 1.15% of the loan amount to 1.25% on loan amounts up to $625,500 beginning April 1st, 2012.

Read the complete article :FHA MIP ALERT: Mortgage Insurance Premiums Increase April 2012.

FHA buyers must accelerate their home search and purchase before April, 2012

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