FHA Rules Change Tomorrow...

FHA Risk Based Premium and Up Front MI change Oct. 1st

Just thought I would remind everyone that several changes go into effect tomorrow.

1. Up front MI changes to 1.75%
2. No risk based pricing
3. Monthly MI changes to
   1. .55% for 95% LTV or higher
   2. .5% for 95% LTV or less
4. No seller funded DPA

This applies to FHA case numbers assigned on or before Sept. 30th... so, if your buyer is already under way it should not matter but buyers you are working with this could help or hurt...