One year ago in April, FHA increased the upfront mortgage insurance premium from 1.75% to 2.25%. Then in October, they reduced it back down to 1%. In just 2 months, we’ll see the Annual Mortgage Insurance Premium go up 25 basis points (a .25% increase). This means your MONTHLY payments will go UP effective April [...]
Posts Tagged ‘fha financing’
FHA Financing & Condos: What You Need To Know
March 3rd, 2010
Laura The FHA is a tease. Yes, I said it. You’re a tease. You tempt buyers by flashing a mere 3.5% down payment and interest rates below 5% (at the time of this writing), but then you go and pull the rug out from under everyone! The FHA has now decided to tighten lending on condo [...]
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