Real estate blog entries tagged with mortage refinance by Richard Smith FHA VA Rural Development in TN GA

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Home : Blogs : Richard Smith FHA VA Rural Development in TN GA : Richard's Real Estate Thoughts : Tag "mortage refinance"

mortage refinance: FHA refinance guideline changes - 12/29/08 05:16 PM

Many FHA loan program changes were included with the Housing and Economic Recovery Act that was passed in July. The big announcement was dropping the seller funded downpayment assistance, which has impacted the home sales market significantly and adversely.
Another change was in the calculation of FHA loan to value for purchases and refinances. The maximum LTV was increased to 100%, to include the FHA upfront mortgage insurance premium. The tiered mortgage insurance premiums were changed to a set premium of 1.75%.
The mortgagee letter announcing the details of this change was poorly written, and left much needing clarification. The clarification … (3 comments)

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Richard Smith FHA VA Rural Development in TN GA

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