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Tag Archive | "mortgage insurance premiums"

FHA Mortgage Insurance Deadline Update: Premiums Increase on April 9, 2012

For the second time in the last two years, the Federal Housing Administration (FHA), a U.S. financing agency, ¬†will raise the premiums that it charges borrowers on April 9, 2012. This deadline is revised from the previous deadline of April 1, 2012. Beginning on April 9, 2012, the FHA will raise by 0.75 percentage points […]

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FHA Raising MIP (Mortgage Insurance Premiums)

For the second time in the last two years, the Federal Housing Administration (FHA), a U.S. financing agency, has announced that it will raise the premiums that it charges borrowers in April. Beginning on April 1, 2012, the FHA will raise by 0.75 percentage points to 1.75%, the upfront insurance premiums that borrowers must pay […]

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Recurring Closing Costs: Costs of Buying and Maintaining Your Home

When you purchase a home for the first time, there are some expenses to keep in mind that you may not be aware of that you are responsible for when you close on your home.¬† Closing costs typically total 3% to 6% of the purchase price of a home. The recurring closing costs outlined below […]

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Home Purchase Escrow Basics: What You Need to Know

You’ve likely heard the phrase “We’re in escrow!” before, but what does it mean? It’s always presented as though it’s positive and as though a house purchase is a done deal. Both of these things are true, but you do need to understand the process in order to be adequately prepared when the time comes. […]

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