BIG Change for FHA Buyers The following is the change that will take place on and after Sept. 7 th 1.) Upfront MI to be decreased from 2.25% to 1.25% 2.) Annual MI to increase as follows; (Keep in mind the present annual MI premium is .55% for LTV’s
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FHA Changes for Homebuyers FHA Changes . .Effective date April 5, 2010 – . . . Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the Office of Housing and Urban Development (HUD) implements
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Buyers need to know - FHA announced changes: 1. Up front mortgage insurance to go up from 1.75% to 2.25% 2. Raise credit score requirement 3. Max seller concessions to be decreased from 6% to 3% There is no confirmation on a specific date yet, but these
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