If you have an FHA buyer that has been pre-approved you may want to make sure they are aware of these changes.
Effective for all FHA case numbers assigned on or after October 4, 2010:
Annual Premium Changes
For mortgage involving an LTV > 95%, the annual premium is increased to .90 percent (from . 55 percent) of the remaining insured principle balance on loans with terms > 15 years increased .25 percent on loan with < 15 years.
Upfront Premium Changes
On all FHA mortgage types ( purchase, refinance and streamline), upfront premiums will decrease to 1.00 ( from 2.25 percent).
Hopefully this helps you keep your buyers informed on their loan process
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