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FHA to Increase Mortgage Insurance Premiums, Coming in April

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  • Louisville Kentucky Mortgage | | 27 Feb 2012, 04:45 PM Agree 0
    As long as the monthly mi does not increase, this should be manageable for the homeowners and put FHA on better financial standing.
  • joey | | 27 Feb 2012, 04:46 PM Agree 0
    I can live with this.
  • EMan | | 27 Feb 2012, 04:54 PM Agree 0
    Did you guys not read? lol....Monthly MIP is going up again by .1% to 1.25% in addition to .75% up front increase. This will definitely continue to hinder affordability if rates start to track even slightly higher. Bottom line, it is this type of "Coffer filling" HUD is pushing that will drive prices down even further.
  • Dave | | 27 Feb 2012, 04:56 PM Agree 0
    "FHA estimates that the increase to the upfront premium will cost new borrowers an average of approximately $5 more per month."

    Liars, it is $8 on every $100,000....there are not many houses that it is only going to be $5 a month, it is more like $16 a month in my market.
  • Randolph32 | | 27 Feb 2012, 05:24 PM Agree 0
    What are they going to do with Streamlines? That's critical for getting lots of people lower rates...
  • mad | | 27 Feb 2012, 09:02 PM Agree 0
    Have you not figured it out? They do not want streamlines, nor do they want more business or first time home owners to buy. They are going to get less business with these changes, so they hose everyone that does finance FHA. It is the American way! All about government making money, not helping the consumers.
  • Carlos F. | | 28 Feb 2012, 08:59 AM Agree 0
    In 2011 alone the monthly mortgage insurance increased by 110% for new buyers AND for people trying to take advantage of lower interest rates. The increase lowered buying potential for a troubled housing market and offset any savings someone wanting to lower their monthly payments. This admistration is so out of touch and will continue to hinder our economy that is still crippled by bad policy. Can you imagine your health insurance increasing 120% in a year? Unbelievable.
  • Mike M. | | 28 Feb 2012, 11:04 AM Agree 0
    Once again the govenment is dipping into the consumers pocket. This is not a marginal increase we are talking about here. An additional .75% upfront, so on average our companies mortgage amounts run approx. 220K so upfront MIP is going from $2200.00 to $3850.00. It is great that FHA will still allow the consumer to roll upfront MIP into the mortgage and even greater for FHA since now they are getting a larger peice of the pie. Monthly MIP is increasing as well, so consumers who are looking to lower their monthly payment and take advantage of the low rates are not really saving any money. Who does this really help?
  • Denise Alvinito | | 29 Feb 2012, 10:54 AM Agree 0
    Agree accross the board! Once again, this should curb what we are trying to enhance... Homeownership!
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