mortgage insurance premiums: Separating FHA Fact From Fiction : Mortgage Insurance Premiums - 02/10/10 03:57 PM
The mortgage lending landscape changes a lot. Rates and guidelines are in constant flux, and it creates preparedness challenges for buyers that aren't paying in cash.
The loan you get today won't always be the loan you get tomorrow.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of "what's coming next".
Recently, we saw this with respect to FHA home loans.
January 20, 2010, the FHA issued a press release with new lending guidelines. Specifically, it announced 3 changes that will be effective starting April 5, 2010:
Upfront … (2 comments)