User42791_1_t Shari Walker
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FHA announced today that it will begin using a risk-based pricing model.  Meaning, applicants with lower FICO scores and down payments will pay a higher interst rate and insurance premium.  However, applicants with higher FICO scores and down payments will pay a lower interest rate and insurance premium than they are currently paying.  Click on the link below for a good article from Realty Times on the subject:

http://realtytimes.com/rtpages/20080519_washingtonreport.htm

 

 
This post has been included in District of Columbia Information

1 Comments on FHA to Move to Risk-Based Pricing

WEll, I knew it was coming, but unlike Fannie it look like it will only affect those below 560 credit scores and most lenders are not allowing anyone below 580.

05/22/2008 09:41 AM by Dave Woodson (Indigo Financial Group Inc.)


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Real Estate Agent: Shari Walker (Long & Foster Realtors)
Shari Walker
Washington, DC
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Long & Foster Realtors

Office Phone: (202) 944-9400
Cell Phone: (202) 731-1594
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