Wednesday, January 20, 2010

FHA Changes

1) Upfront MIP will go from 1.75 to 2.25
2) If FICO is below 580, max LTV is 90% (oh really, is anyone doing FHA with FICO below 620?)
3) Max Seller contribution is droppimg from 6% to 3% (this will be an issue from our builders- please make sure we dont't have any in process construction loans that need 6% concession)
To read this inforamtion in it's entirety go to
What is happening today in mortgage lending: Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com

2 comments:

Patrick said...

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QUALITY STOCKS UNDER FIVE DOLLARS said...

FHA has done more harm than good.