Category Archives: Financing & Mortgages

First-Time Home Buyers, this is extremely time sensitive information that will have a direct impact on buyers seeking FHA financing after April 18, 2011.  All FHA loans are assigned a case number.  The upcoming changes with FHA deal with the rise in the monthly MIP (Mortgage Insurance Premium).  This change will effect all case numbers ordered on or after April 18, 2011.  The monthly MIP will go from .90 to 1.15, or ¼ percent.  To better understand the implications of this increase let’s look at an example.  For a loan of $150,000 the difference in payment for MIP increases from 112.50 per… Read More »