New FHA streamline refinancing guidelines as of June 11, 2012
FHA streamline refinances fundes before May 31, 2009 will get a substantial break!
Decrease to Annual Mortgage Insurance Premium on Certain Streamline Refinance Transactions
For all Single Family Forward Streamline Refinance transactions that are refinancing FHA loans endorsed on or before May 31, 2009, the Annual MIP will be 55 bps, regardless of the base loan amount. This change is effective for case numbers assigned on or after June 11, 2012.
Decrease to
Up-Front Mortgage Insurance Premium on Certain Streamline Refinance Transactions For all Single Family Forward Streamline Refinance transactions that are refinancing existing FHA loans that were endorsed on or before May 31, 2009, the UFMIP will decrease from 1 percent to 0.01 percent of the base loan amount. This change is effective for case numbers assigned on or after June 11, 2012.




