My Blog

Current changes on all FHA loans:

The minimum downpayment required will be changed from 3.00% to 3.50% (in turn, the max LTV will lower to 96.50%).

The maximum LTV on Rate & Term refinances will be raised to 100%, including financed MIP (from 97%, not including financed MIP).

The maximum LTV on Cash Out refinances will remain unchanged.

The above changes will be in effect for all loans that have case numbers assigned on, or after Thursday, January 1, 2009.