Tag Archives: FHA

FHA vs. PMI

Posted on April 18, 2013 by Guy Johnson

Just received an infographic from Genworth Financial comparing the costs of FHA vs. PMI that I thought I’d share. For those readers considering a mortgage for their home purchase and contemplating an FHA loan compared to a loan with private … Continue reading →

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FHA mortgage insurance rates increase next week

Posted on March 28, 2013 by Guy Johnson

Effective April 1, 2013 the Federal Housing Administration’s (FHA) will increase its annual mortgage insurance premium (MIP) for most new mortgages by 10 basis points or by 0.10 percent. This increase will bring the mortgage insurance rate to 1.35 percent. … Continue reading →

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Prospective FHA borrowers, you have one month remaining…

Posted on March 1, 2012 by Guy Johnson

…before the higher mortgage insurance premiums kick in. I’ve been alerted by multiple lenders this week regarding the new FHA mortgage insurance premiums set to become effective April 1. For loans under $625,000 FHA will increase its annual mortgage insurance … Continue reading →

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FHA loan limits extended until December 31, 2011

Posted on August 21, 2011 by Guy Johnson

Last Friday the Department of Housing and Urban Development issued a Mortgagee Letter to all approved mortgagees stating what are to be the Federal Housing Administration’s (FHA) Maximum Loan Limits Effective October 1, 2011 through December 31, 2011.  For the … Continue reading →

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FHA loan limits to be cut by nearly 20 percent – will it matter?

Posted on August 10, 2011 by Guy Johnson

I received an email this week from a Senior Loan Officer informing me of a possible decrease to FHA funding limits if Congress fails to act. The email read: “Barring Congressional action, FHA loan limits will revert back to loan … Continue reading →

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FHA mortgage insurance to increase 25 basis points

Posted on February 14, 2011 by Guy Johnson

Just received this heads-up from a local lender regarding an upcoming FHA mortgage insurance increase: Effective April 18th mortgage insurance on FHA loans to incur a 0.25% increase. Here’s a link to the HUD letter: Mortgagee Letter 11-10 Or, if … Continue reading →

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FHA loan changes coming soon

Posted on September 19, 2010 by Guy Johnson

Received an email from a lender friend of mine notifying me of new FHA loan requirements coming next month.  Thought I’d pass along the info for those who may be interested… FHA made an announcement last week about the future … Continue reading →

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FHA condo financing requirements

Posted on March 31, 2010 by Guy Johnson

Just received the following info emailed to me from a mortgage loan officer from Bank of America. The information pertains to the guidelines that condominium complexes must meet before BofA will loan on them via FHA financing. So if you’re … Continue reading →

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