Tired of Paying FHA Mortgage Insurance?

Many Maine homeowners ask me how they can remove FHA monthly mortgage insurance premiums with their mortgages. FHA insures mortgages so that lenders will be encouraged to make more mortgages available for people. The FHA mortgage insurance agreement is between FHA and the mortgage company, so you must contact your mortgage company and ask them whatContinue reading “Tired of Paying FHA Mortgage Insurance?”

FHA Plays a Critical Role in Home Financing

The Federal Housing Administration plays a critical role in the nation’s housing financing system, providing safe, affordable mortgage financing to consumers in all markets during all economic conditions, the National Association of REALTORS® said in testimony today. Click to read more: REALTOR® Magazine-Daily News-FHA Plays a Critical Role in Home Financing.

FHA Mortgage Insurance Changes Effective

If you applied for a new FHA mortgage today, you may have noticed the upfront mortgage insurance has been reduced from 2.25% to 1%.  That being said, your monthly premium has moved from .55 to .90.  To learn more about the FHA Mortgage Insurance contact your Maine Mortgage Broker or Maine Mortgage Banker today.

FHA’s new mortgage insurance premium structure change goes into effect October 4, 2010

FHA has announced it will make changes to it’s Mortgage Insurance Program. These changes will take effect for all new FHA case numbers issued as of October 4, 2010. FHA loans require both an upfront mortgage insurance fee and a monthly mortgage insurance fee. The FHA has announced a change to these fees for all newContinue reading “FHA’s new mortgage insurance premium structure change goes into effect October 4, 2010”

FHA Underwater Refinance Option Now Available

FHA Underwater Refinance Option Now Available Can’t refinance out of your high interest rate because your neighbors are being foreclosed and destroying your homes value? In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today will beginContinue reading “FHA Underwater Refinance Option Now Available”

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