It is now confirmed that FHA is set to change its mortgage insurance on October 4th 2010. There is good news, and bad news. The good news is that the Up Front FHA Mortgage Insurance Premium is being reduced, but the bad news is that the monthly mortgage insurance is going up. Read the rest of this entry »
A long expected shakeup in the way FHA calculates its Mortgage Insurance Premium is expected to take effect on September 7th, 2010. (*UPDATE: I now hear FHA will make these changes on all new FHA loans effective October 4, 2010). I first wrote about this here. Now the proposed changes have taken on a new cost structure. Read the rest of this entry »