#fha loan rate
FHA PMI Rate Chart 2015
FHA PMI Rates 2015 are lower than they have been for many years. This is a great move, and is possible only because the FHA PMI fund is now in positive territory, and they did not have to request additional funds from Congress. For the most part, if you are applying for a FHA Loan, your FHA PMI fees in 2015 are about .5% LESS on a monthly basis than they were in 2014!
Note we refer to these fees as FHA PMI fees. In reality that s not what they are called by the Industry. They are normally referred to as FHA MIP fees. It s mortgage insurance. It covers the Bank in case you go into foreclosure no matter what you call it, it s the same thing.
If you already have a FHA Loan, and you are considering a refinance you just got a bonus!
Low Mortgage rates for a FHA Streamline No Appraisal refinance (that normally costs you ZERO) and lower monthly FHA PMI fees! Win-Win!
Doesn t happen that often! You can also do a FHA Streamline Refinance if you no longer live in the property! Some banks don t offer this program, but we ve seen homeowners with FHA loans at 4.75% save more than $200 a month with no cost out-of-pocket!
Obviously, mortgage interest rates changes daily (sometimes hourly) so if you are reading this in November of 2015 and rates have already gone up you should still be happy that you are getting a really good deal on the FHA PMI Rates 2015!