Here we go again! FHA mortgage insurance rates will be changing effective October 1st (bet you're getting used to hearing "changing" by now, huh??) But, before I post up the new ... I wanted to post what the CURRENT rates are for reference. (Stay tuned for the update to follow soon so be sure to subscribe to my posts for the update!)
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FHA Single Family Mortgage Insurance Upfront and Annual Mortgage Insurance Premiums (Loan Terms < 15 years) Effective as of July 14, 2008 |
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Decision Credit Score |
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LTV
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850-680 |
679-640 |
639-600 |
599-560 |
559-500 |
499-300 |
Non-Traditional |
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< 90 |
Upfront 1.00% ---------- Monthly No monthly |
Upfront 1.00% ---------- Monthly No monthly |
Upfront 1.25% ---------- Monthly No monthly |
Upfront 1.50% ---------- Monthly No monthly |
Upfront 1.75% ---------- Monthly No monthly |
Upfront 1.75% ---------- Monthly No monthly |
Upfront 1.50% ---------- Monthly No monthly |
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90.01-95.00 |
Upfront 1.00% ---------- Monthly .25% |
Upfront 1.25% ---------- Monthly .25% |
Upfront 1.50% ---------- Monthly .25% |
Upfront 1.75% ---------- Monthly .25% |
Upfront 2.00% ---------- Monthly .25% |
N/A |
Upfront 1.75% ---------- Monthly .25% |
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> 95 |
Upfront 1.25% ---------- Monthly .25% |
Upfront 1.50% ---------- Monthly .25% |
Upfront 1.75% ---------- Monthly .25% |
Upfront 2.00% ---------- Monthly .25% |
Upfront 2.00% ---------- Monthly .25% |
N/A |
Upfront 2.00% ---------- Monthly .25% |
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FHA Single Family Mortgage Insurance Upfront and Annual Mortgage Insurance Premiums (Loan Terms > 15 years) Effective as of July 14, 2008 |
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Decision Credit Score |
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|
LTV |
850-680 |
679-640 |
639-600 |
599-560 |
559-500 |
499-300 |
Non-Traditional* |
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< 90.00 |
Upfront 1.25% --------- Monthly .50% |
Upfront 1.25% --------- Monthly .50% |
Upfront 1.25% --------- Monthly .50% |
Upfront 1.50% --------- Monthly .50% |
Upfront 1.75% ---------- Monthly .50% |
Upfront 1.75% --------- Monthly .50% |
Upfront 1.50% ------------ Monthly .50% |
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90.01-95.00 |
Upfront 1.25% --------- Monthly .50% |
Upfront 1.25% --------- Monthly .50% |
Upfront 1.50% --------- Monthly .50% |
Upfront 1.75% --------- Monthly .50% |
Upfront 2.00% ---------- Monthly .50% |
N/A |
Upfront 1.75% ---------- Monthly .50% |
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> 95 |
Upfront 1.25% --------- Monthly .55% |
Upfront 1.50% --------- Monthly .55% |
Upfront 1.75% --------- Monthly .55% |
Upfront 2.00% --------- Monthly .55% |
Upfront 2.25%** ---------- Monthly .55% |
N/A |
Upfront 2.00% ---------- Monthly .55% |
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* Follow Non-Traditional credit/Insufficient credit underwriting guidelines published in Mortgagee letter 2008-11 ** A first time homebuyer, with HUD approved counseling, will pay only 2.00% for the up-front mortgage insurance premium.
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Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Starkey Mortgage.
Ruth Vogt, Colorado Regional Manager
Colorado #LMB100023827, NMLSR# 257576
I guess that is what they feel they have to do to keep up! Thanks for the info:)
Can you do FHA loans in all 50 states?
Please email me and let me know: info@fidelitymutualmortgage.com
www.fidelitymutualmortgage.com