Here is the example of the increase will effect you:
Based on 30 yr. Term - Greater than 95% or great LTV:
Oct-10 | Apr-11 | |
Annual MIP % | 90 bps | 115 bps |
Sales Price | $163,000 | $163,000 |
Min Down Payment | $5,705.00 | $5,705.00 |
Mortgage with Out UFMIP | $157,295 | $157,295 |
FHA Monthly MIP | $118.00 | $151.00 |
Change in Monthly Payment | $33.00 | |
Yearly change | $396.00 | |
After 5 Yrs. | $1,980.00 |
Fall the Link to the Mortgagee Letter from FHA. Click Here!
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