Mortgagee Letter 2015-01

Get An Fha Loan Get rid of FHA mortgage insurance today with a loan that doesn’t require PMI If your home has about 20% equity based on today’s value, you can cancel your FHA mortgage insurance using a conventional refinance, often within 30 days, and you can start here today by completing a short online form.

FHA ML 2015-01 Overview On January, 2015, HUD issued If you already have an active FHA Case Number, the FHA will temporarily approve cancellations within 30 days of the effective date of mortgagee letter (2015-01). Also note that this change does not apply to streamline refinances of FHA loans that were endorsed on or before May 31, 2009.

The same clarification was made to FHA’s Mortgage Insurance Premiums table for forward mortgages that is included as an Appendix to mortgagee letter 2015-01. No changes have been made to the annual MIP rate reductions announced in the Mortgagee Letter, and all policies and associated effective dates remain as announced on January 9, 2015.

President Obama announced the Making Homeownership More Accessible and Sustainable directive that requires the Federal Housing Administration to reduce it’s FHA monthly paid Mortgage Insurance Premium (MIP) by .5%. HUD Press Release Mortgagee Letter 2015-01 By reducing the FHA MIP, the Government is making FHA financing more affordable with the goal of boosting homeownership to normal levels.

FHA Mortgagee Letter 2015-01 states, "This Mortgagee Letter (ML) communicates revised annual MIP rates for FHA Title II forward mortgages and provides opportunity for cancellation of existing case numbers in order to utilize the MIP rates contained in the ML."

FHA Mortgagee Letter 2015-01 states, "This Mortgagee Letter (ML) communicates revised annual MIP rates for FHA Title II forward mortgages and provides opportunity for cancellation of existing case numbers in order to utilize the MIP rates contained in the ML."

We got a letter from InterContinental Capital Group about a MIP reduction on our FHA mortgage, and it looked official, but I assumed my husband already took care of it so I let my daughter draw on.

Date: January 9, 2015 To: All Approved Mortgagees Mortgagee Letter 2015-01 . Subject . Reduction of Federal Housing Administration (FHA) annual mortgage insurance premium (mip) rates and Temporary Case Cancellation Authority . Purpose

*Revision to the Annual MIP Premium – as per Mortgagee Letter 2015-01. There will be no change in Annual Mortgage Insurance Premiums for all case numbers assigned on or after January 26th, 2015 for the following: On loans with a Loan to Value of less than or equal to 78% and with terms up to 15 years.

Fha Upfront Mip 2018 Fha loans limits 2016 fha mortgage Insurance Factors  · FHA Mortgage Insurance Premium Increases. Most FHA buyers will finance a 30-year term with the minimum 3.5% down, resulting in a 96.5% loan to value, and therefore will be subject to the 1.15% mortgage insurance premium. For a $500,000 loan, the monthly mortgage payment amount would increase $104. This is the second time in about six months. · FHA Loan-to-Value (LTV) Limits for 2015 – 2016. Let’s start with a definition. The loan-to-value ratio, or LTV, is used to show the ratio of a loan to the value of an asset being purchased. In this case, the asset is a home. So it’s the size of the mortgage in relation to.Is there such a thing as a refund for FHA Up-Front Mortgage Insurance or FHA UFMIP? This mortgage insurance premium is required on FHA loan transactions and must be paid either in cash at closing time or must be financed into the loan amount.Fha 20 Year Loan