sangfnsgfsd
Categories: Brett's Mortgage Blog

FHA Is Proposing These Two Changes (Not Good News)…

Good Morning!
In a recent press release HUD is proposing two changes to the FHA mortgage program…1) They are proposing the monthly mortgage insurance on a 30 year FHA mortgage will last for the life of the loan.

Right now if 5 years have passed and your LTV is 78% or lower you can eliminate monthly MI payments to FHA. …this may very well go away.

2) They are proposing a 10 basis point increase to the annual insurance premium.

Currently these are just proposals, but I would expect them both to happen at some point in the not too distant future.

Suggested action: If you were considering getting an FHA mortgage do it now – not later.

Have a good day today!  …and thanks for reading.

Brett

To see if you qualify for a mortgage right now – CLICK HERE  and fill out this simple application.

 

To sign up for my weekly mortgage quick tips – CLICK HERE.
Brett Sampson

Share
Published by
Brett Sampson
11 years ago

Recent Posts

How To Buy A House With A Reverse Mortgage…

I’ve written about this before, but we have more and more people passing the age…

5 days ago

Advantages Of Buying A House From A Relative…

I had this situation come up again last week, and I wanted to address it…

7 days ago

You Have To Know This When Buying A House…

One of the most important things you will have to do when you apply for…

2 weeks ago

Free Grant Money Available For Down Payment If You Have One Of These Jobs…

I wanted to remind you that we have a 2% to 5% downpayment and closing…

3 weeks ago

How To Get A Loan With Foster Care Income…

If you receive money from the State or a County sponsored organization for providing foster…

3 weeks ago

How To Pull Cash Out Of Your Rental Property With No Proof Of Income…

Do you have investment property, and would like to pull cash out of your property?…

4 weeks ago