FHA Delays Mortgage Insurance Premium Increase until Oct 4, 2010
Hud has announced that previously announced FHA Premium Changes will now be implemented Oct 4, 2010, delayed from the original plan of Sept 7, 2010. Go here to view the Statement from Deputy Assistant Secretary Vicki Bott on the change.
This will create some opportunity for folks purchasing and refinancing their homes to take advantage of the current MI premium plans, which are less expensive than the new FHA MIP program.
Please view the following articles for more information on comparing the old and new FHA MIP premium structures, and how they effect you:
FHA Changes to Mortgage Insurance Premiums authorized in House Bill HR 5981
Part 1: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!)
Part 2: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!)
To get started on your FHA Loan today, please visit our online application at vandykfunding.com or call us direct at 760-752-4480, ask for Brian Skaar.
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