Understanding the FHA Mortgage Insurance Premium on your Rhode Island mortgage.

On March 15, 2011, in Tips And Advice, by Lynda Mckenzie

Understanding the FHA Mortgage Insurance Premium (MIP) * 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 [...]

Critical Changes to FHA’s Insurance Premiums & How it Impacts Inland Empire Homebuyers

On August 13, 2010, in Tips And Advice, by Brad Yzermans

HUD recently announced that starting October 4th, FHA is reducing the amount to be collected for their Up Front Mortgage Insurance Premium (UFMIP). However, FHA will also increase how much they collect on their Annual Mortgage Insurance Premium (MIP – collected monthly).  How will this be impacting homebuyers in California’s Inland Empire (Riverside & San Bernardino County)? [...]