Just thought this may be helpful information!

FHA Upfront Mortgage Insurance Premiums AND Monthly Mortgage Insurance Premiums will be changing on July 14th, 2008.

What this means to your borrower?  That their payments will increase and that they will end up financing more.

FHA is going to a tiered system that is based on the amount financed and credit score.  This will have the most impact on borrowers with a credit score less than 680.

What you need to do!  Tell your buyer or borrower that they need to talk to their lender and that they need to get a "Casefile ID Number"!  These are property specific, so if you are close to getting a contract accepted and your buyer is going to be utilizing FHA for financing, you may want to mention this to them.  This needs to take place by FRIDAY, so we only have a couple days left.