Borrowers who take out an FHA mortgage have to pay higher mortgage insurance premiums if they don’t have a traditional down payment. Here’s the explanation from The New York Times (“F.H.A. Rule Changes for Mortgage Borrowers,” Nov. 24): One change raises the annual insurance premium, paid monthly by the borrower, setting it at 0.85 percent [...]
Tag Archives | FHA
FHA loans triple in 3 years: now 24% of total
FHA-backed loans, once a small part of the mortgage market, now represent almost a quarter of all new housing loans in the U.S., according to new Census data. (See here, and then click on “Quarterly Sales by Price and Financing.) Some of this difference is due to the lower volume of total loans. But the [...]
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