FHA announced on February 14th that it is raising the annual mortgage insurance premiums, also known as the FHA monthly mortgage insurance.
These changes become effective on or after April 18th, 2011. The new change is 25 bps more.
HUD wants to strengthen the FHA’s Mutual Mortgage Insurance Fund, known as the MMIF.
Read the Mortgagee Letter from HUD here
Buy NOW if you're in the market to purchase a home, all FHA case numbers prior to this date won't require the higher insurance rate.
These changes become effective on or after April 18th, 2011. The new change is 25 bps more.
HUD wants to strengthen the FHA’s Mutual Mortgage Insurance Fund, known as the MMIF.
Read the Mortgagee Letter from HUD here
Buy NOW if you're in the market to purchase a home, all FHA case numbers prior to this date won't require the higher insurance rate.
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