FHA Archives - Page 3 of 3 - Ohio Mortgage Solutions

FHA MORTGAGE INSURANCE INCREASING

February 28, 2012 By T.C. Strait / Loan Officer

New FHA Mortgage loans starting April 1st will see an increase to the FHA Up Front Mortgage Insurance Premium (UFMIP) and to the Annual Mortgage Insurance Premium (MIP). The Up Front Mortgage Insurance Premium (UFMIP), which is the amount that is added on top of the base loan amount, will increase to 1.75%, currently it […]

UPDATE: FHA POISED TO LOWER MIP FOR STREAMLINES

February 16, 2012 By T.C. Strait / Loan Officer

Just a quick update on a post from last week. One of the CONS I mentioned in the PROS AND CONS OF THE FHA STREAMLINE REFINANCE article was FHA program changes. Chances are when you originally took out your FHA mortgage, you paid 0.5% mortgage insurance (equates to roughly 0.5% X loan amount / 12 […]

Pros and Cons of an FHA Streamline Refinance

January 17, 2012 By T.C. Strait / Loan Officer

FHA mortgages picked up where subprime mortgages left off after 2007 when subprime became a dirty word. FHA had limited down payment requirements, no minimum credit score requirements, and had attractive interest rates. Ohio, as well as the rest of the country saw FHA originations double from 2007 to 2008. 6 years later, Ohio residents […]

OHIO RESIDENTS, GET READY FOR MORTGAGE COSTS TO GO UP

January 11, 2012 By T.C. Strait / Loan Officer

The payroll tax cut extension that Congress agreed to extend on December 23rd will have far reaching implications. One of those implications is increasing the cost of a mortgage for those of us in Ohio and across the country. The loan guarantee fee paid by Fannie Mae and Freddie Mac will increase by 10 BPS […]

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I have never taken the time to write a review before, but I felt like I needed to take the time to write this one. My experience with T.C. was nothing but outstanding. He made the loan process from beginning to end as painless as obtaining a mortgage can be. T.C. offered multiple loan options for my wife and I, and helped lead us to a mortgage that worked for us. T.C. responded immediately nearly every time I had a question, and I couldn't have asked for a better home buying experience. Thank you T.C.
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