FHA Mortgage Insurance Premiums Increase on April 18th
✉️ Want to forward this article? Click here.
On April 18th, the annual mortgage-insurance premium on new FHA loans is set to rise by a quarter of a percentage point on 15 and 30-year mortgages. The move is aimed at replenishing the FHA’s dwindling reserves and meeting a Congressionally mandated two percent reserve threshold.
While a quarter of a point may not seem like a large increase, the chart below illustrates what it will mean for different loan amounts:
Courtesy of Prosperity Mortgage.
A report published by DQ News earlier this month reported that FHA loans represented 37.3 percent of home loans issued in the DC area in February 2011, however, nationally usage fell to its lowest level in 27 months.
See other articles related to: fha, mortgage insurance
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/fha_mortgage_insurance_premiums_increase_on_april_18th/3305.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
This week’s Best New Listings includes a bi-level condo north of Adams Morgan's mai... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Best New Listings: Windows Galore on Biltmore; One Up, One Down on Swann
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro