Tag Archives: home refinance

The fees associated with the cost of up-front mortgage insurance premiums increased by about 75 basis points in April of 2012. This increase is to help replenish the insurance fund for the FHA and will apply to only a 30-year single family FHA loan. However, some fees will go down.

The up-front fees for refinancing will decrease to 0.01 percent from the current 1 percent and will begin on June 11. Starting on April 9, 2012, the upfront mortgage insurance premium for buyers will increase to 1.7 percent from 1 percent. The monthly insurance cost will increase 0.10 basis points.

The purpose of lowering refinancing fees is to make the home refinance process easier. However, using this process requires borrowers to be current with payments. The increase of fees is estimated to add up to $1 billion to the Federal Housing Administration insurance fund by 2013. A new home buyer will be paying $5 more per month for a $150,000 FHA loan. Continue reading

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Any way one look at it, mortgage fraud is a crime. When purchasing a Texas mortgage, one needs to be careful of the lenders they go through. Lending companies are popping up all over the place due to low rates … Continue reading

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Looking for a competitive mortgage loan interest rate for a possible refinance or home equity loan? A reduced interest rate can provide you with extra emergency savings if you have equity in your home, or enable you to make ongoing mortgage payments … Continue reading

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