fha loans: 2011 Fiscal Budget Lending Proposals Effecting Home Buyers and Real Estate Industry
- 02/24/11 06:46 AM
There are new proposals made a part of fiscal year 2012 budget that will affect buyers' pocket and the Real Estate Industry; April 18, 2011 - There will be a quarter of a percentage point increase to the annual mortgage insurance premium (MIP) on FHA mortgages. Any new FHA loan will have an added premium of approximately $30 per month. FHA conforming loan limits will drop back at the expiration of the Housing and Economic Recovery Act (HERA) on October 1, 2011. A proposal of phasing 10% down payment for all Fannie Mae and Freddie Mac loans from the current 3.5%. Implementation of … (0 comments)
There are new proposals made a part of fiscal year 2012 budget that will affect buyers' pocket and the Real Estate Industry;
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