In our government’s continuing  efforts to exterminate a percentage point(.25) on all 30- and 15-year loans.  This is a sixty percent monthly increase over the previous mortgage insurance boost last October.

On a 200,000 loan the mortgage insurance will now be $100.00 more per month compared to  FHA loans closed last summer. This will impact new loans insured by FHA on or after April 18, 2011.

Eric McAllister