Tag Archive | "fha mortgagee letters"
Oregon FHA Loan Cost Goes Up April 5
Starting on April 5, 2010, the up front mortgage insurance premium (UFMIP) for all FHA loans in Oregon will increase from 1.75% to 2.25%. That means that on a purchase in Eugene with a $200,000 loan amount, the increased UFMIP will be $1,000.
Continue reading...FHA UFMIP Increase Coming – Buy Eugene/Springfield Now!
Friday, March 5, 2010
FHA's Up Front Mortgage Insurance Premium (UFMIP) for purchases and refinances in the Eugene/Springfield Oregon area will increase the current 1.75% to 2.25% on case numbers assigned after April 5. On a $200,000 loan FHA Mortgage Loan in Lane County, this is an additional $1,000 cost. Beating this deadline on a purchase will also qualify you for the First Time Home Buyer Tax Credit if eligible.
Continue reading...OREGON Neighborhood Stabilization Program up and running
Tuesday, November 24, 2009
One of the least talked about programs that is available to help people purchase a home in Oregon is the Neighborhood Stabilization Program (NSP).
Continue reading...Update on Delaware FHA Condo approval process
Thursday, October 15, 2009
FHA had originally planned to eliminate spot approvals on Condos in Delaware and nationwide effective October 1, 2009. The new process would require the lender to approve the condo. FHA has decided to delay this until November 2, 2009.  This means any new FHA case numbers pulled on November 2, 2009 or after will have to follow the new FHA condo approval process. The new process gives lenders two options for approving condos. The first is called HRAP and is the HUD Review and Approval Process. The second option is called DELRAP which is Direct Endorsement Lender Review and Approval Process. The FHA mortgage Letter 2009-19 explains both processes in details. It also covers what types of properties are eligible. For example Condotels are not eligbile for FHA financing.
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Thursday, March 25, 2010
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