On February 14th, 2011 HUD sent out Mortgagee Letter 11-10 in order to ensure that the FHA Mutual Insurance 
Fund will remain financially sound. Beginning April 18th, 2011 all FHA mortgages will see a 25 basis points increase to their monthly mortgage insurance premium. Here is what it means for FHA borrowers that don’t have FHA case #’s.
| Loan Information | Prior to April 18th | April 18th and beyond |
| Sales Price | $163,000 | $163,000 |
| Minimum Downpayment (3.5%) | $5,705 | $5,705 |
| Mortgage Amount w/o MIP | $157,295 | $157,295 |
| FHA MIP Monthly Payment | $118 | $151 |
| Difference in Monthly Payment | $0 | $33 |
| Yearly Difference in Payment | $0 | $396 |
That’s right… an increase in your payment that you have no control over. Do you have your FHA Case #?
Ricky BeachManaging Broker/Realtor
Renown Real Estate Services
(775) 750-1437
Ricky@Resnv.com
www.RenownHomes.com