Changes To FHA Mortgage Insurance Premium
Posted by Hamid Grinage on Wednesday, March 7th, 2012 at 11:33am.The Federal Housing Administration recently announced an increase in the upfront Mortgage Insurance Premium. Mortgage insurance is required with FHA financing, and it used to be that 1% was required up front to purchase it. The amount required up front is now 1.75%, so that's an increase of 75%. This means you need that much more cash to bring to the table when purchasing real estate in Oakland or anywhere else for that matter.
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