FHA Up Front MIP and annual MIP are changing on case numbers assigned on or after October 4, 2010. [...]
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Starting Monday, April 5, 2010, getting an FHA mortgage will be more expensive. That means you’ll want to give a full mortgage application before the weekend so your lender can register your loan in time for the deadline. [...] A quick word to the wise, and home buyers. We all know the tax credit is ending soon, and the “target date” for the majority of folks is April 30th. Well, set those clocks back because if you are thinking of going to go with an FHA loan, mark April 5th down and circle it! [...] I’ve been asked this a number of times here in the last 2 months or so, and since I’m preparing to do my second FHA Streamline 203(k), here are the basics of how it works (from HUD). MORTGAGEE LETTER 2005-50 December 29, 2005 TO: ALL APPROVED MORTGAGEES, ALL APPROVED APPRAISERS SUBJECT: Enhancements to [...] (via MND) FHA to Raise FICO Requirements, Reduce Seller Concessions, Increase Premiums and Downpayment The Federal Housing Administration (FHA) is not, as some have claimed “the next subprime,” according to remarks prepared for presentation to congress this morning by Housing and Urban Development Secretary Shaun Donovan. Secretary Donovan told members of the House Committee on [...] |
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