Trump Take-Back of Obama’s Gift to Homebuyers
FHA mortgage insurance premiums are not being reduced after all. Via a January 9th press release and “mortgagee letter”, HUD announced that mortgage insurance premiums were to be cut .25% for most FHA borrowers starting on January 27th. This reduction would save the...
Obama’s Parting Gift to Homebuyers: But do they get to keep it?
In a surprise move on January 9, the Obama administration announced a reduction to the monthly mortgage insurance (MI) on all FHA loans. For loans that close on or after January 27, 2017, most homebuyers will pay .25% less per year in MI on their loan. Will Trump take...
2017 FHA loan limits: Way up!
HUD just announced the FHA loan limits for 2017 and Portland’s FHA loan limits are going up… way up. Starting January 1, 2017, for a single family residence the loan limit will be $408,250. The current limit is $368,000, so that’s $40,250 more than last year (just...
$424,100 is the new $417,000
Very Big News: Starting January 1, 2017, Fannie Mae and Freddie Mac will have new, higher loan limits. How the new limit plays out for buyers That’s only a 1.7% increase, but given our rapidly appreciating market, every little bit helps. With this adjustment, maximum...
