St. Louis Real Estate Blog

FHA Changes

August 11th, 2010 7:37 PM by Melanie Mitchell - Team Lead/Listing Specialist

Details sorrounding the upcoming changes being made to FHA guidelines regarding the upfront Mortgage Insurance Premium as well as Monthly PMI.

Effective October 4, 2010 the upfront Mortgage insurance premium will decrease from the current 2.25 to 1.0%. This of course is a step in the positive direction. The flipside to that coin means the monthly PMI now increases from the current .55 to either .85 or .90 depending upon the Loan-To-Value.

Posted in:General
Posted by Melanie Mitchell - Team Lead/Listing Specialist on August 11th, 2010 7:37 PM

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