riverside: FHA Mortgage Loan Insurance Changes for Homebuyers in California's Inland Empire, Temecula, Corona, Riverside, Murrieta & Menifee
- 08/12/10 05:40 PM
HUD recently announced that starting October 4th (recently delayed), FHA is reducing the amount to be collected for their Up Front Mortgage Insurance Premium (UFMIP). However, FHA will also increase how much they collect on their Annual Mortgage Insurance Premium (MIP - collected monthly) for California's Inland Empire (Riverside & San Bernardino County) home buyers. Confused? FHA's insurance is a ‘split' premium type of mortgage insurance designed to protect the lender from loss. FHA collects some up front (UFMIP) and some on a monthly (MIP) basis. Don't confuse this with your fire/hazard type homeowners insurance which is completely different than FHA's mortgage insurance. … (3 comments)
riverside: New FHA Loan maximum Loan Limits for Riverside, San Bernardino, San Diego, Orange & Los Angeles County
- 03/22/09 11:22 AM
HUD announced the 2009 FHA maximum home mortgage loan limits for Riverside, San Bernardino, San Diego, Orange, and LA Counties. The increase, back up to the temporary 2008 loan limits, was a result of the American Recovery and Reinvestment Act of 2009 (ARRA) which was signed into law on February 17, 2009. Lenders are now accepting the higher loan limits and ready to give money away! What this means for you is HUD/FHA will insure a larger loan amount with as little as a 3.5% down payment and very competitive interest rates. Single Unit Two Unit Three Unit Four UnitRiverside & San … (0 comments)
HUD recently announced that starting October 4th (recently delayed), FHA is reducing the amount to be collected for their Up Front Mortgage Insurance Premium (UFMIP). However, FHA will also increase how much they collect on their Annual Mortgage Insurance Premium (MIP - collected monthly) for California's Inland Empire (Riverside & San Bernardino County) home buyers.
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