mortgage: The Cost to Obtain FHA Mortgages Expected To Increase
- 01/20/10 01:45 AM
Expect to hear from the Federal Housing Administration (FHA) today, regarding rate and fee increases associated with obtaining FHA insured mortgages. According to a Wall Street Journal article, the increased borrower fees are necessary to avoid the future need for an FHA bailout. In recent years, FHA insured mortgages made up about 5% of all mortgages, in our market. The economic crisis, increased difficulty in obtaining conventional financing and low down payment requirements has boosted the ratio of FHA insured mortgages from 5% to 40%, in our market. According to the WSJ article, the upfront insurance premium charged on all FHA … (0 comments)
Expect to hear from the Federal Housing Administration (FHA) today, regarding rate and fee increases associated with obtaining FHA insured mortgages. According to a Wall Street Journal article, the increased borrower fees are necessary to avoid the future need for an FHA bailout. In recent years, FHA insured mortgages made up about 5% of all mortgages, in our market. The economic crisis, increased difficulty in obtaining conventional financing and low down payment requirements has boosted the ratio of FHA insured mortgages from 5% to 40%, in our market. 
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