 |
 |
 |
|
|
|
FHA Mortgages Are Changing in 2009
Starting January 1, 2009, all rate and terms will be 100% LTV (Loan-to-Value) including the UFMIP. Streamline Refinances will be at 98.5% and regular FHA refinances will be 98.25%. This is an excellent opportunity for everyone to now start taking advantage of these interest rates. They have not been this low in YEARS, and now is a perfect time to see how much you can save. Also remember, as I wrote in my previous post, that the new down payment requirement will now be 3.5% for all purchase transactions of the lesser of the appraised value or sales price. This is in addition to any closing costs incurred by the borrower. Tags: 2009 fha rules, FHA Guidelines, max ltv fha | Category: Texas Mortgage Info | |
 |
Tommy (NMLS #220122) is an active loan officer with AmCap Mortgage. You can also find Tommy on Twitter laying down the law in mortgages and other things that makes the wheels turn. |
 |
|
 |
Comments are closed.