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If you have an FHA loan and are considering refinancing your existing home loan or you plan to purchase a new home with an FHA loan you should submit your application and have your loan officer order your FHA case number for your transaction by the end of September, 2010.

Starting in early October, 2010, the monthly mortgage insurance factor for FHA loans will increase 30 basis points to .85%, therefore increasing your monthly mortgage payment. As long as you get your case number by the end of this month you will be grandfathered in at the .55% figure. Call Brian at 602-688-1339 or via email at besquivel@bncnationalbank.com

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