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FHA has just published new guidelines regarding their upfront MIP (Mortgage Insurance Premium) and annual premiums. The information directly from FHA is as follows; Directions to FHA-Approved Mortgagees on Premium Pricing during Moratorium. The upfront and annual premiums on mortgages for which...
For those of you having trouble with the link, below is the FAQ regarding the First-Time Home Buyer Tax Credit as presented by the NAHB: Frequently Asked QuestionsAbout the First-Time Home Buyer Tax Credit The Housing and Economic Recovery Act of 2008 authorizes a $7,500 tax credit for qualified ...
HR 3221, the Housing and Economic Recovery Act of 2008, will make several changes to the FHA insured loan program. FHA loan program is a government insured loan program designed to assist low to moderate income (not so much any more) borrowers obtain home ownership. So let's start with the good c...