Here is important news about Housing and Urban Development from our Lender Jeff Lancaster at Prime Lending.
This is cutting edge news and a more formal announcement will be made, however, I wanted you to know about this ASAP. This is a very important news for investors interested in Dallas Homes and Plano Foreclosure Properties.
HUD has announced their intention to
- Lower the Up Front MIP from 2.25% to 1% AND
- Increase the Annual (monthly) MIP From .50 – .55% to .85 – .90% depending on LTV
on loan terms greater than 15 years. Read the rest of this entry »