So, you called “The Bank” the other day figuring that they are the place to get a mortgage. You figure they have your money, they know you and they’ll give you a loan because they are in your neighborhood and the manager knows you (Not true since all the loans now go to Fannie Mae, … Continue reading
Tagged with Federal Housing Administration …
FHA MIP to go Higher….Soon!
Have an FHA deal that you’re negotiating? The MIP is soon to go much higher. As of loans issues a case number (not application date) after April 9th, 2012, the up front MIP on an over 95% LTV deal will go from 1.00% to 1.75% (yes, it’s financed still). The monthly goes from 1.15% to … Continue reading