Important! What you MUST know about FHA Mortgage Insurance Changes on Monday June 3rd:
As of June 3rd, Mortgage Insurance will remain on for the life of FHA Loans, regardless of the down payment.
To be grandfathered into existing rules, make sure you have done the following three things by Friday May 31st.
Step 1: Complete a Loan Application Step 2: Go under contract to purchase a property (Send sign copy of contract to your loan officer).
Step 3: Make sure your lender pulls an FHA case number. (IMPORTANT: double check with your FHA lender that a case number was pulled and that you will be grandfathered into current guidelines).