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With effect from 18 April 2011, the Federal Housing Administration (FHA) reviewed the actuarial provisions (rules) for the FHA's rationalisation programme. One of the most remarkable changes is the "net tangible benefit". A new streamlined credit taken out after April 18, 2011 must have a 5 per cent discount on the capital and interest amount of the mortgage due plus the MIP, or if the funding from a fixed-rate mortgage (ARM) to a fixed-rate mortgage must either lower the interest rates by at least 2 per cent or not be higher than the prevailing interest rates.
FHA Performance Calculator will assess whether the new streamline facility meets the net performance test. Mortgage creditor letter.pdf. Mixed course difference: Each ARM with