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FHA loans are subject to an up-front mortgage insurance premium of 1.75% of the loan amount, in addition to a monthly mortgage insurance premium, depending on the loan term and loan-to-value (LTV). 8 An FHA loan of $250,000 for 15 years at 4.000% interest and 5.359% APR will have a monthly payment of $1,849.
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FHA stands for Federal Housing Administration (FHA) which is a governmental agency created in 1934 to improve housing standards and promote home ownership. FHA mortgage loans offe
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*While it is Movement Mortgage’s goal to provide underwriting results within six hours of receiving an application, process loans in seven days, and close in one day, extenuating circumstances may cause delays outside of this window.