Huge FHA announcement in June.

Services for Real Estate Pros with Scanlon Signing Services

Starting June 11, 2012 FHA will lower its Upfront Mortgage Insurance Premium (UFMIP) for certain FHA borrowers with a drop to just .01%. The past rate of PMI on FHA loans made the streamline almost impossible due to the lack of benefit to the homeowner. Borrowers will now be able to get into a streamline FHA loan that they were previously unable to get. To qualify borrower must: *be current on your existing FHA mortgage. *your current FHA mortgage must have been endorsed by 5-31-09 Also employment and income verification is not needed and no credit report or appraisal is required. These changes took effect on 6-11-12.


Lisa Scanlon, CSA


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