HUD suspends FHA mortgage insurance premium cut
The Department of Housing and Urban Development announced it suspended the reduction of Mortgage Insurance Premiums, effective immediately. HUD sent out an announcement just an hour after President Trump was sworn in on Friday, stating that the cuts have been suspended indefinitely. The letter stated that the FHA will issue a subsequent Mortgagee Letter at a later date should this policy change. “FHA is committed to ensuring its mortgage insurance programs remains viable and
FHA to reduce annual insurance premiums on most mortgages
FHA is reducing its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017. For a full schedule of the new premium rates announced today, read FHA’s mortgagee letter. Today’s action reflects the fourth straight year of improved economic health of FHA’s Mutual Mortgage Insurance Fund (MMIF), which gained $44 billion in value since 2012. Last year alone, an independent actuarial analysis fo
County Loan Limits
Maximum loan limits and minimum down payments for Conforming, FHA and VA loans in Orange & and LA County.