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NEXTA
FHA Announces Changes in Texas
By Leesa Sandoval
As some of you may have heard HUD has officially announced their intention to make the following changes to the FHA loan program in Texas: Lower the Up Front MIP from 2.25% to 1% AND
Increase the Annual (monthly) MIP From .50 – .55% to .85 – .90% depending on LTV.
Understanding the FHA Mortgage Insurance Premium (MIP)
By Leesa Sandoval
Mortgage Insurance is a very important part of every FHA loan since a loan that only requires a 3.5% down payment is generally viewed by lenders as a risky proposition.
Read MoreWhy Do I Need Mortgage Insurance?
By Leesa Sandoval
Mortgage Insurance, sometimes referred to as Private Mortgage Insurance, is required by lenders on conventional home loans if the borrower is financing more than 80% Loan-To-Value.
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