… and that FHA relied only on traditional, 30-year fixed-rate mortgages….
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Market Update: FHA backed loans are wanting more cash up front.
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Tags: depleted-too, donovan, FHA, game, insures-must, its-secondary, make-sure, only-on-traditional, over-the-long, relied-only, reserve-account, taxpayer, taxpayer-over, the-long-term
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On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200000 home with a $7000 down payment, the up-front mortgage insurance will increase by ... As "Your Plano Agent," she will always try to find out things like a house's past selling price, time on the market, offers received, how much similar houses are selling for and even how anxious the seller is to make a deal ...