FHA Premiums May be Going Up, But a Loan Officer Offers a Way Out

Starting next Monday on April 9, FHA upfront mortgage insurance premiums will rise from 1 percent to 1.75 percent of the base loan amount, and the annual mortgage insurance premium will rise by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount.
Even if one hasn’t applied for a loan just yet, Dan Green, loan officer with Waterstone Mortgage in Cincinnati and author of themortgagereports.com, said by getting an FHA loan registered by April 9, one can avoid paying those premiums.
“To register an FHA loan simply means to have an FHA Case Number assigned to it. You don’t have to lock a mortgage rate and you don’t even have to choose a particular lender to work with,” Green said in his blog.

For complete article, http://www.dsnews.com/articles/fha-premiums-may-be-going-up-but-loan-officer-offers-way-out-2012-04-05