FHA Mortgage Insurance to Increase April 5 2010

by Cory Kessenich on February 5, 2010 · 0 comments

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I thought I would share some recent news concerning the FHA program. Beginning in early April, the upfront mortgage insurance premium (MIP) is being raised from 1.75% of the base loan amount to 2.25%.

If you are considering a purchase or refinance using FHA, now is a good time to start the process and save some money.

The monthly MIP premium is also under consideration by HUD to be raised but nothing has been decided on that as of now. Wisconsin and Florida FHA mortgage rates are still very low at this time but the Fed has stated that it will stop buying mortgage backed securities at the end of March which could cause mortgage rates to rise.

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Article by Cory Kessenich

I have been involved in Mortgage Banking for many years. During this time I have worked in every county in Wisconsin. I enjoy meeting my clients face to face around their schedules. I simplify the lending process through excellent communication skills and extensive product knowledge. I empower my customers with education that stays with them for a life time. I have worked with every program available in our ever changing market. This includes Conventional, FHA, FHA 203k, USDA, WHEDA, Reverse and VA home loans. I have the resources and knowledge to execute your closing in a timely fashion. I am outgoing and enthusiastic about my business which gives me the drive to succeed. “Beyond Banker’s hours and Beyond Banker’s service“ NMLS ID #208789

Cory has written 358 articles.

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Toll Free: 877-240-5810 x205
Email: cory.kessenich@madisonmortgageguys.com

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