how to buy a home: FHA Insurance Increase: Looks like Home Buyers Will Get A Month To Beat It! - 09/01/10 03:05 AM
FHA Mortgage Insurance Premiums are going to increase, but it was just announced that home buyers will get a one month reprieve allowing them to get in before the increase.
There was a lovely message in my inbox this morning.  Josephine Nicholas of the CMPS Institute reports that home buyers now have until October 4, 2010 to use an FHA loan for the purchase of their home and avoid the scheduled increase in the mortgage insurance premium (MIP) rate.
What does this increase mean for home buyers? 
Ms. Nicholas put it this way:  "A home buyer purchasing a $200,000 home using … (3 comments)