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FHA to Move to Risk-Based Pricing

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

Posted by Shari Walker (LICENSED IN DC, MD, & VA) on 05/22/2008 09:18 AM

Comments (1)

fha, risk based pricing, fico, interest rates, mortgage

This post has been included in District of Columbia Information

1 Comments on FHA to Move to Risk-Based Pricing

MAY

2008

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.

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Shari Walker (LICENSED IN DC, MD, & VA)

Washington, DC

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Long & Foster Realtors

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