So I’m sitting here watching CNBC, and what do I hear?
FHA changes UFMIP to 2.25% and Down Payments are being increased!
If you recall, I have been writing about my outlook on FHA changes for a while now, and folks, I wasn’t that far off.
The Federal Housing Administration has been in some financial trouble due to [...]
HUD has posted changes to the required down payment structure. These changes are effective for case numbers assigned on or after January 1, 2009.
HIGHLIGHTS:
Effective Date
Case # assignments on or after January 1, 2009
Down payment
3.5% and can no longer consist of Borrower paid closing costs.. i.e. the entire investment is via true down payment (96.5% LTV [...]
