As signed into law last Friday, maximum FHA loan limits are — once again — as high as $729,750. [...]
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The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter. “Going FHA” is more common than ever before — but is it better? [...] Beginning with FHA Case Numbers assigned April 18, 2011, mortgage insurance premiums will be higher by 25 basis points per year, or 0.25%. [...] FHA Streamline Refinance guidelines are changing. For the better. A lot more homeowners are suddenly eligible to refinance. [...] Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points. [...] Beginning with FHA case numbers issued on or after October 4, 2010, the FHA is changing its upfront and annual mortgage insurance premium structures. [...] 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! [...] The Fed Purchase Program is ending in March and the MBS (mortgage backed securities) market will be an open canvas to new investors. At the moment, the Fed is 92% complete with their program, and when they back out of it, this is going to attract investors that are going to require more yield. Well [...] (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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