FHA Changes

Written by Michael A. Foote, CMB on . Posted in FHA lending, hud, mip, mmi, ufmip

FHA is changing it’s terms, yet again. FHA will increase it’s MMI or monthly mortgage insurance premium to as high as .90% from the current .55% and it’s UFMIP or upfront mortgage insurance premium to 1% from the current 2.25% for purchase transactions. The result, plenty of technology updates and confused Loan Officers. The question is how will the streamline refinances be affected by this?

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Comments (1)

  • Mazhar

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    not sent any paperwork in and they are witaing for an offer, run for that situation!a0 All of the 10 questions play a very important role in helping you decide on a home to buy but so much of this process

    Reply

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