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FHA Changes / MI Increases / Will Affect Homebuyer's Monthly Payments

August 9th, 2010 1:38 PM by Kathy Delbridge

There are FHA Changes coming soon that will affect a Homebuyer's Monthly Payments.

What are the changes?

  • The Upfront Mortgage Insurance Premium is decreasing
  • The Monthly MI premiums will be increasing ( currently at a .55 factor and will be increasing to .90)

These changes will be effective with FHA Case #'s assigned on or after September 7, 2010. Case #'s are generally assigned upon completion of a borrower's signed application and upon receipt of making a binding offer on a home for new purchases.

Want to know how these changes WILL affect your Monthly Mortgage Payment, Click on this link to view a comparison Chart.

With Interest Rates at historical lows, homes being sold well below previous values and now these changes, don't delay if you have been considering purchasing a home, especially if you'll be obtaining FHA Financing.

I can be reached directly at 678-773-0651 and via email at kathy@kathydelbridge.com.

Posted in:General
Posted by Kathy Delbridge on August 9th, 2010 1:38 PM


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