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Old January 13th, 2015, 01:35 PM   #1
M
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Default FHA Cuts Mortgage Insurance Premiums!

On January 9th, FHA officially released revisions to annual FHA Mortgage Insurance Premiums. Changes to Mortgage Insurance Premiums (MIP) amounts are set to take effect on January 26th, 2015. FHA has announced a .50 basis point reduction in annual MIP rates.

A few stipulations;
- The reduced premiums will be unavailable on loans with terms of 15 years or less
- Borrower who recently closed an FHA loan will still have to wait for 210 days and have made six payments on the existing FHA loan before eligible for a streamline refinance.
- Borrowers with FHA-insured loans can refinance and obtain the lower annual MIP, as long as the original endorsement was after May 31, 2009. (Mortgage Insurance on these loans already have a reduced Mortgage Insurance Rate and cannot be reduced further without refinance to a conventional mortgage.)

Rates are excellent so we may be able to not only save you by reducing your monthly mortgage insurance premium each month but a reduction in rate could reduce your payment even more.

Call us to see if you are eligible to take advantage of this as well as many other options that may be available to you. Consultation is free but the education is priceless.
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Old January 14th, 2015, 02:33 PM   #2
oldrigo
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Michelle,

Send me a PM with your phone number so i can have a buddy of mine Adam call you for a refi
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