Congress Makes PMI Tax Deductible Millions of Borrowers Will Benefit The federal government’s Private Mortgage Insurance legislation is great news for the real estate industry! Enacted on January 1st, 2007, the bill makes Private Mortgage Insurance (PMI) tax deductible for borrowers whose personal adjusted gross income is $100,000 or less. For millions of home buyers, [...]

* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1.  Up Front Mortgage Insurance Premium (UFMIP) – financed into [...]

FHA Increases Upfront MIP Fee: Raises Credit Score Requirement; Reduces Seller Concessions Mortgage insurance premium (MIP) will be increased to build up capital reserves and bring back private lending The first step will be to raise the up-front MIP by 50 bps to 2.25% and request legislative authority to increase the maximum annual MIP that [...]