FHA Lowers Mortgage Insurance Premium

Effective January 26, 2015 FHA will lower the annual (paid monthly) Mortgage Insurance Premium (MIP) from 1.35% to 0.85% on FHA loans.  The savings is approximately 37% on the MIP that is paid each month with the mortgage loan.  If you’re thinking about purchasing a home and are planning to use FHA financing – now… [Read More]

What is an FHA Streamline Refinance and what are the benefits?

An FHA Streamline Refinance allows existing home owners with an FHA loan to refinance without an appraisal, asset and income documentation…thus “Streamline Refinance.”  A credit report with mortgage payment history only, is required.  There are other benefits as well. The whole idea behind a Streamline Refinance is to allow an FHA borrower to take advantage… [Read More]

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