In a near-unanimous vote, the House of Representatives gave the FHA power to raise the monthly mortgage insurance premiums it charges to its borrowers.
Get Your FHA Mortgage Application Started — Fees Increase 1/2 Percent Starting Monday, April 5, 2010
Starting Monday, April 5, 2010, getting an FHA mortgage will be more expensive. That means you’ll want to give a full mortgage application before the weekend so your lender can register your loan in time for the deadline.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.
In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce the government group’s portfolio risk while strengthening its overall financials. For consumers, the changes mean higher costs.
The FHA published its 2010 loan limits. There’s no change from 2009.
