All Posts Tagged With: "2.25%"
Is The FHA Moving Toward 1% Up-Front Insurance Premiums?
Is the up-front insurance charge for FHA mortgages going to fall?
FHA-backed mortgages are now a huge part of the financing landscape, but since April the up-front mortgage insurance premium has been 2.25 percent for most FHA borrowers. Now there’s some discussion regarding the idea of a 1 percent up-front MIP — but a higher annual [...]
FHA To Borrowers: Gimme More!
The FHA has announced higher mortgage insurance premiums,stiffer downpayment standards for those with weak credit and more oversight for FHA-approved lenders.
What’s going on here? A few things:
First, FHA reserves are falling. The insurance program needs more money. What happens when insurance programs need cash? They raise premiums. In the case of the FHA they want [...]
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