good news: FHA loans -THEY ARE BACK
- 01/11/17 08:31 AM
UNFORTUNATELY THIS PENDING CHANGE WAS RESCINDED BY HUD 1/20/2017 Well, that title may be a little deceiving, they never really left, they just were too expensive for the past few years- and because of this we have been opting for Conventional loans more often than FHA. FHA's first Mortgagee Letter of the year (ML2017-01) announced a significant reduction in FHA's Monthly Mortgage Insurance Premium, this change is effective for loans funding on and after January 27, 2017. Here is the pretty chart: Outside of the mortgage world this may be confusing, so lets put some real world numbers together: If you were borrowing $200,000 and had the 3.5% … (2 comments)
UNFORTUNATELY THIS PENDING CHANGE WAS RESCINDED BY HUD 1/20/2017
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