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Brad Lynch
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Flower Mound TX Home Exterior

More To Learn About FHA Mortgage Insurance

March 22, 2011 by Brad Lynch

Did you hear that FHA has installed another increase in the amount of mortgage insurance that it’s charging the home buyers and refinance prospects starting April 18 2011?

The Frisco home buyers that I’ve talked to about this have expressed a dislike in the change, and so have the Realtors too.  What does the change mean?  This means that if your lender hasn’t ordered the case number on the subject property you are buying or refinancing, by April 18th, then you will be paying mortgage insurance on the new ratio that was administered…increase.

For a quick video post explaining how this change will effect you and how you might avoid the change, check out my Frisco Mortgage Video Blog Post.

You might get lucky if another “would be” buyer tried to buy your subject property through FHA before you found it.  Check out this post from months ago about one local Collin County FHA prospect  in McKinney… Home Buyer who felt super lucky when this happened.  This could happen to you.

The official changes can be seen on this:  FHA Changes April 2011.

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Category: Mortgage LoansTag: FHA changes, FHA Mortgage Insurance, Mortgage Insurance Change, Mortgage Insurance Premium Changes

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About Brad Lynch

Brad Lynch of Flower Mound, TX has been helping families in the DFW and surrounding areas since 2002. Over 95% of his business during that time has been by referral.

Specialties include, FHA and Conventional Purchase and refinance mortgage, and owelty refinances during or after a divorce.

Connect With Brad

Hello there! I’m Brad. If you have any questions as you read through this website you can reach me at 469-450-2723. Or, Pre-Qualify Now For Purchase Or Refinance.

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Texas Recovery Fund Notice

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT HTTP://WWW.SML.TEXAS.GOV.

Brad Lynch, RMLO (NMLS #206799) is the owner representative of Your Mortgage Guy For Life LLC (NMLS #2739114). Your Mortgage Guy For Life LLC is an Equal Opportunity Lender. NMLS Consumer Access https://www.nmlsconsumeraccess.org/ 

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