All Posts in MORTGAGE INSURANCE
Mortgage Insurance – When Can it Be Cancelled?
May 8, 2011
If you have a conventional mortgage, and put less than 20% down when you purchased your home (or less than 20% equity when you refinanced your home) your monthly payment includes “mortgage insurance“. Depending on your interest rate, for a 30- year term mortgage and if you put 5% down payment, it will take approximately [...]
FHA to Increase Monthly Mortgage Insurance Rates
March 5, 2011
For the third time in 12 months, the HUD is changing its mortgage insurance costs. Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points. The change will add $250 to an homeowner’s annual loan costs per $100,000 borrowed, and applies to all [...]
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