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Mortgage Costs Increasing

2/21/2011

4 Comments

 
New regulations and government changes are going to increase the costs of loans.

FHA Premiums Are Going to Increase.  The Federal Housing Administration (FHA) is raising annual mortgage insurance premiums by an additional .25% on new 15 and 30 yr loans after April 18, 2011.  For 30 year loans this means the total premium will now be 1.15% from .9% if the Loan to Value ratio is higher than 95%.

FHA is Lowering The Maximum Loan Amount. The maximum amount that can be insured by Fannie, Freddie or the FHA is scheduled to drop to $625,500 on Oct 1, 2011 from $729,750.  This means less people in states with high property values will be able to obtain affordable FHA loans.
4 Comments
mortgage agent licensing course link
6/24/2012 09:54:32 pm

This is the first time when I came on this topic and luckily found it nice thanks for this one. This is the first time when I came on this topic and luckily found it nice thanks for this one. I must like to appreciate.

Reply
first time buyers program link
9/12/2012 09:42:38 pm

Wow! I am really impressed by the way you detailed out everything. It is really going to help me a lot. Thanks for sharing your thoughts so clearly.

Reply
buy to let mortgage rates link
7/9/2012 04:25:10 pm

With increase number of mortgage loans and interested people no wonder if it has been increased.

Reply
texas home mortgage link
10/6/2013 09:26:29 pm

This is a really great news, people can now breath a little from their mortgages. I hope this will go on.

Reply



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    Greg Bryan is a realtor and an attorney in San Francisco

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