More Changes Are Coming For This Loan Program...

Good Morning,




I wanted to remind you that FHA's up front mortgage insurance charged at closing is going up from 1.75% to 2.25% on April 5th.



This is the upfront mortgage insurance that FHA charges in case there is a foreclosure. FHA adds it to the loan balance at closing.



The reason they are doing this is to strengthen the fund that insures FHA mortgages.



Have a good day today! ...and thanks for reading.


Brett