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 »
I almost feel like there is no more PMI (Private Mortgage Insurance) on condos! But that is not true, there is PMI availability for condos, but it is getting harder to get. Most people know by now that PMI is needed on a Conventional loan if you have less than 20% down payment. I recently had a client who Read the rest of this entry »