New Kentucky FHA Mortgage insurance Chart for 2015 with Changes effective Jan 26, 2015

New FHA MIP Chart for Kentucky FHA loans for refinances and purchase loans effective January 26,2015





Loan Purpose
Up-Front MI Premium
Endorsement Date of Current 
FHA-insured Mortgage
Purchase, Rate/Term Non-Streamline Refinance, Cash Out Refinance
1.75%
N/A
Streamline Refinance
1.75%
Endorsed on or after 06/01/2009
Streamline Refinance
0.01%
Endorsed prior to 06/01/2009

For Loan Terms > 15 years
Loan Purpose
Base Loan Amount
LTV
Case Number Assigned on or After01/26/2015
Case Number Assigned6/03/2013–01/25/2015
Purchase, Rate/Term, Cash-Out, or Streamline Refinance Endorsed on or after 06/01/2009
<=$625,500
<=95%
.80
1.30
<=$625,500
>95%
.85
1.35
> $625,500
<=95%
1.00
1.50
> $625,500
>95%
1.05
1.50
FHA Streamline endorsed prior to 06/01/2009
All Loan Amounts
All LTVs
0.55

For Loan Terms <=15 Years
Loan Purpose
Base Loan Amount
LTV
Case Number Assigned 
on and after 6/03/2013
Purchase, Rate/Term, Cash-Out, or Streamline Refinance Endorsed on or after 06/01/2009
<=$625,500
<=90%
0.45
<=$625,500
>90%
0.70
> $625,500
<=90%
0.70
> $625,500
>90%
0.95
FHA Streamline endorsed prior to 06/01/2009








The length of time on which you'll pay mortgage insurance premiums on your FHA loan is as follows:
Mortgage Term
Loan to Value Ratio
Length of Mortgage Premium
15 years or shorter
Up to 90%
11 years
15 years or shorter
Greater than 90%
Full loan term
Greater than 15 years
Up to 90%
11 years
Greater than 15 years
Greater than 90%
Full loan term
Source: HUD.gov.



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How do same-sex marriages affect your mortgage closings in Kentucky?




In order to ensure that each of your closings proceeds as efficiently as possible and without "closing day" delays, this message summarizes a few key points about how same-sex marriages can affect your closings in light of the recent U.S. Supreme Court Case Obergefell v. Hodges, Director, Ohio Dept. of Health rendered on June 26th, 2015.
In Obergefell, the Court used the Due Process and Equal Protection clauses of the Fourteenth Amendment to eliminate any disparate treatment of same sex marriage couples and invalidate any state or federal law that prohibits or fails to recognize same sex marriage.

Therefore, here are a few simple rules you can apply to your closings:
  1. A same sex couple validly married in any state must be recognized as married in all 50 states.
  2. In Kentucky, due to dower and curtesy rights, each member of a same sex marriage will typically be required to attend the closing, and will likely be a necessary party to sign the deed and/or mortgage. This rule will apply regardless of whether the transaction involves a sale (Buyer or Seller) or a refinance (Borrower).







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