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Rebecca Fantini
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- Haverhill, Ma
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Rebecca Fantini's Blog
Financing Update: Important FHA Financing Changes
HUD has issued changes that were mandated as part of the Housing and Economic Recovery Act of 2008 (HERA). There are changes in the FHA program starting today which I wish to make you aware of.
Since July 14th, the Up Front Mortgage Insurance Premium that buyers made was based on their credit score. For some this was a tremendous savings (1.25% vs. 1.50 %). Beginning today until Sept. 30 of next year, the UFMIP (the up front mortgage insurance premium) will be 1.75%...no more discounts. Begin… Continue
Since July 14th, the Up Front Mortgage Insurance Premium that buyers made was based on their credit score. For some this was a tremendous savings (1.25% vs. 1.50 %). Beginning today until Sept. 30 of next year, the UFMIP (the up front mortgage insurance premium) will be 1.75%...no more discounts. Begin… Continue
Posted on October 3, 2008 at 6:13pm — 1 Comment
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