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California FHA Loans

FHA Loan Information for California                                               

 

 

 

 

 

 

 

 

 

 

 

 

 

FHA News

FHA loans benefit homebuyers by providing low down payment options and credit criteria more flexible than conventional loans. (FHA loans)

 

FHA Streamline Refinance

FHA streamline refinance loans make it easier for homeowners with current high rate FHA loans to refinance their mortgage.  Streamline refinance loans do not require appraisals (streamline refinance Loans)

 

Down Payment Assistance

CHDAP- California Homebuyer's Down payment Assistance Program Offers a deferred-payment subordinate loan in the amount of (3%) of the purchase price or appraised value, which ever is less to be used for down payment and/or closing costs

(down payment assistance)

 

 


 

 

 

FHA Mortgage Insurance Premium- MIP

 

FHA loans are loans insured by the Federal Housing Administration - FHA.  .FHA increased the Mortgage Insurance Premium in April of 2011 by.25% for standard FHA mortgages. 

 

Things to Know about FHA Mortgage Insurance Premium- MIP

 

1-As of April, 2011 FHA upfront MIP or mortgage insurance premium remains at 1 %, but the annual insurance premium increased by .25% for standard forward mortgages.

 

2- The Annual Premium is now 1.15% for LTVs GREATER than 95% on 30 year loans

 

3- The Annual Premium is now 1.10% for LTVs EQUAL to or LESS than 95% on 30 year loans.

 

4- The Annual Premium is now .50% for LTVs GREATER than 90% on 15 year loans.

 

5- The Annual Premium is now .25% for LTVs EQUAL to or LESS than 90% on 15 year loans.