We have been closely following the announced changes to the FHA policies for new mortgages, particularly regarding mortgage insurance. Our goal is to keep you informed as we continue to learn more about the changing policies.
THE DATE FOR THE NEW MORTGAGE INSURANCE POLICY HAS CHANGED TO OCTOBER 4, 2010.
The video we mentioned before is still a valuable resource for understanding how the new policy will impact your buying power. Simply note that any mention of September 7 in the video is now set for October 4. If you are considering a home purchase in the near future, you should also consider that you will have less buying power if you wait until after October 4. Also remember that paperwork and filing takes time. If you want to be sure you get an FHA case number before this policy shift, then you should contact us immediately to get you on the right track to having your purchase completed before it’s too late. Email us at firstname.lastname@example.org to find out what you need to do to complete your purchase before the mortgage insurance increases.
Click to see the video —> New Homebuyer Tax Starts September 2010.