Archive for February, 2010

Are you focused on $2.69 or $8,000?

February 22, 2010

HUD changesDon’t let the coming changes to FHA distract you from the opportunity of the $8,000 Federal Tax Credit.

HUD has announced an increase in the upfront MIP (Mortgage Insurance Premium) from 1.75% to 2.25%. This amount is added to the loan amount and financed into the monthly payment.

What does this increase in MIP really mean in dollars and cents?