Just wanted to keep everyone up to date, waiting till this goes into effect could cost you more money.
I just wanted to provide you with some information regarding the FHA guideline changes that are coming on July 14th. There's a lot of info in the attached packet, but what you really need to know is that the up front mortgage insurance premium and the monthly mortgage insurance are now risk based. The better the scenario the lower the up front mortgage insurance and monthly insurance will be and vice versa.
Thanks and please ask any questions that you have,
Nick Maccarrone
Oxford Mortgage Corporation
720-217-5953
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