Written by:  Mark Madsen - Las Vegas Home Loans

In response to the new “HOPE for Home Owners Act” (HR 3221) that was recently passed by the House of Representatives, FHA announced new Mortgage Insurance Premiums starting October 1, 2008 through September 30th, 2009. 

Up-front Mortgage Insurance Premiums:

• Purchase Money Mortgages and Refinances = 1.75%
• Streamline Refinances (all types) = 1.5%
• FHA Secure (Delinquent Mortgagors) = 3%

Monthly Mortgage Insurance Premiums:

• 30 yr mtg. -  LTV > 95%, monthly will be @ .55%
• 30 yr mtg. -  LTV < 95%, monthly will be @ .50%
• 15 yr mtg. -  LTV > 90%, monthly will be @ .25%
• 15 yr mtg. -  LTV < 90%, monthly will not be required.
• FHASecure - LTV > 95%, monthly will be @ .55%
• FHASecure - LTV < 95%, monthly will be @ .50% 

* This information was provided by Jeff Mifsud @ FHAGamePlan.com 

Tags: fha gameplan, fha insurance, fha training, hr 3221, las vegas fha

This entry was posted on Thursday, August 28th, 2008 at 6:21 pm and is filed under Financing, Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.