Category Archives: FHA MIP

Loans With No Private Mortgage Insurance Are Available

Pic credit to Vichie81     Are there  loans without private mortgage insurance or mortgage insurance where less than 20% equity, or less than a 20% down payment exists?  YES.  There is a loan option called lender paid mortgage insurance.  What happens is that the lender buys the private mortgage insurance instead of the borrower.  The cost for the […]

FHA Monthly M.I.P. Goes Up Again By .25% On April 18, 2011

For the second time in 6 months, it just got more expensive for a California first time homebuyer to own a home.   FHA has increased the monthly mortgage insurance premium.  The new premium will go up an additional .25% April 18, 2011.  A California first time homebuyer with less than 5% to use for a […]

New FHA Mortgage Insurance Premiums Now in Effect

As of October 4th, FHA loans are cheaper on the upfront cost to obtain, but more expensive on a monthly basis. Not just for a California real estate loan but nationwide.  The new FHA mortgage insurance premiums are as follows: The upfront FHA mortgage insurance has been lowered from 2.25% upfront of the loan amount […]