Insurance for FHA loans increase April 1st, 2012


Back in October of 2010 HUD reduced the upfront Mortgage Insurance Premium (MIP) to 1.00% of the loan amount for FHA buyers. However, a recent announcement stated it will be raising the upfront MIP to 1.75% as April 1st, 2012. HUD is also considering an increase of the annual MIP and reducing the seller contribution […]

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