GREAT NEWS: FHA to Decrease Refinance Costs for Many Borrowers
premier mortgage group | Monday, March 12th, 2012 | Comments OffIf you have an FHA loan that was endorsed on or before May 31, 2009 and plan to streamline refinance, the upfront mortgage insurance premium (UFMIP) is decreasing from 1.0% to 0.01% of the base loan amount, and the annual premium will be 55bps regardless of loan amount. This change is effective for case numbers assigned on or after June 11, 2012.