FHA Home Mortgage Loan Interest Rates

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1. FHA tightens its belt | Southern Indiana - Louisville Metro Homes

   Raising the downpayment amount from 3.5% to 5% , and that amount increases to 10% down for buyers with FICO scores under 580. The guidelines include a hefty down payment for low FICO score borrowers and an increase in the upfront mortgage ... The agency also will pursue legislative authority to allow flexibility to bring the annual premium ? current capped at 55 basis points ? higher. At face value, these changes would appear to make FHA loans less available or restrict ...

1. Gov't official warns on home down payment hikes - Bluffton Today

   It has been insuring roughly 30 percent of new loans, and is the largest backer of mortgages to first-time buyers. The agency said in January it would raise fees and tighten lending standards to shore up its strapped finances in hopes of avoiding a ... homebuyers would pay an upfront mortgage insurance premium of 2.25 percent of the total loan amount. That's an increase from the current level of 1.75 percent. A borrower taking out a $200000 mortgage would pay a$4500 fee, ...

1. Buy | Parents Run Risks Helping Kids Buy A Home

   Tighter lending standards applied after the housing bubble burst have made loans insured by the Federal Housing Administration the most popular option for people getting their first home. Fifty-five percent of entry-level ... On a $400000 loan, that would increase the upfront premium to $9000 from $7000 ? though the fee can be financed. Also beginning April 5, FHA borrowers with a credit score of 580 or less must put at least 10% down. However, mortgage bankers say that ...