If you are thinking about buying a home and that you might consider an FHA loan, please note that any FHA case number assigned after April 5th of 2010 will be subject to an increased upfront mortgage insurance premium of 2.25%.  This represents an increase of 0.5% from the 1.75% premium that FHA buyers have been paying for the last year or two. This policy change will increase premiums for purchase money and refinance transactions, including FHA-to-FHA credit-qualifying and non-credit qualifying streamlined refinance transactions.

If you have questions about how this will affect you when you purchase a home, please contact me.