Congress Just Changed FHA Again. Here Is What It Means To You…

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Congress Just Changed FHA Again.…

I wanted to let you know that congress has passed another law that will change the FHA loan program.

They are changing the amount of initial and monthly mortgage insurance that gets charged by FHA.

…Here are the current rates: 2.25% up front “funding fee”, and .55% MI is charged monthly.

…Here are the new figures for all FHA case numbers pulled after September 7^th 2010: 1.00% up front “funding fee”, and .85% to .90% charged monthly.

The bottom line is your monthly payment for new FHA loans will be a little higher, but the initial MI added to your loan is lower. So, depending on how long you stay in your house this move could actually save you money on the overall MI charged by FHA.

Thanks for reading and have a great day!

Brett

Category: Brett's Mortgage BlogBy Brett Sampson August 9, 2010

Author: Brett Sampson

https://www.berkshirelending.com

Thank you for your time and effort. We are very pleased. Have a happy holiday.

T. TrungPlano, Texas

I want to thank you for all your help with the refinance. You really work hard with me to make sure this refinance got done. Thank you so much again! I will send referrals your way!

M. SouthernHouston, Texas

Special thanks to your staff who really put in the extra hours to get this done in a short time frame.

I have already recommended you to several friends who were helping during the move.

M. LampeRichardson, Texas

Thanks for all your help! I really appreciated you and Leslie’s patience and help Thru the process.

M. HancockLaredo, Texas

We truly appreciate the professionalism with which you managed our loan process. Your calm demeanor in crunch times was unusual and refreshing.

Thank you again. If we ever have the opportunity to suggest your service to someone, we most certainly will.

L. GlenFort Worth, Texas

Thank you so much for your help in getting our loan approved. You really went the extra mile and Tom and I appreciate it so much.

K. SavayDallas, Texas

Brett, thank you for making our dreams come true!

J. GrassCoppell, Texas

Joey and I will both highly recommend you to anyone we know who is looking to buy a home! I also know that Nancy was very pleased with your service so I wouldn’t be surprised if you get some referrals from her as well 🙂

J. BurnsideSan Antonio, Texas

It was great working with you. I appreciate everything you did to help make this a success.

H. SotoFort Worth, Texas

Thank you for all the help and be sure that I will use you in the future and recommend you up anyone that can use you.

H. KingKerrville, Texas

Thank you for everything that you and Rosi did for this to happen. Thanks.

G. SanchezGrapevine, Texas

I appreciate it also Brett, Thank you very much !!! Thanks again. 🙂

G. MontoyaDallas, Texas

Brett was able to get this title

officer to travel all the way to Waco from Plano so that I could close. I would highly recommend working with Brett Sampson and would do it again!

C. MartinWaco, Texas

Thank you! Everything went smooth at closing. I will recommend you to others. Have a great weekend.

B. ScherryFort Worth, Texas

Thank you for you’re help getting this done and doing a good job for us.

B. PittsMcKinney, Texas

Congress Just Changed FHA Again. Here Is What It Means To You…

Author: Brett Sampson

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