Effective January 27, 2017 FHA is reducing its mortgage insurance premium rate saving buyers hundreds of dollars annually. Though, it’ll provide a negligible benefit for Seattle condo buyers.
Effective April 9, 2012 FHA will increase the upfront mortgage insurance premiums on FHA loans from 1.00% to 1.75%, raising the cost to borrowers.
On October 1, 2011 the increased loan limit for FHA Loans expired reducing the limit in the Seattle area from $567,500 to $506,000 for FHA back loans, potentially affecting upper-end purchases. Last week, FHA got a reprieve from Congress, which reinstated the higher loan limits in 42 states through 2013. For the Seattle/King County area…
The deadline for HUD’s Emergency Home Loan Program for at-risk homeowners facing foreclosure is coming up this Friday.