FHA Insurance Rates May Be Too Expensive for Families to Afford

Posted on July 5th, 2013 by FHA News Editor
FHA News Editor
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FHA News Editor - Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.
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A report from Hampton Roads says that with Federal Housing Administration insurance rates rising as they have in the past three years, it might behoove home buyers to have a large reserve of cash ready to make a significant down payment on their new home. According to the report, FHA insurance rates have gone up year-over-year for the past three years, and FHA borrowers are now required to pay mortgage insurance throughout the entire LOL (life of loan), even if they have already repaid a good percentage of what had been borrowed.

To read the entire article, please visit:
http://southerndailypress.com/fha-insurance-rates-may-be-too-expensive-f...

SOURCE: Published by NAMP® Publishing Group, a division of the National Association of Mortgage Processors (NAMP) (http://www.mortgageprocessor.org)


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