Mortgage Payments will Increase for FHA Mortgages for Kansas City Home Buyers on October 5th.

Just a friendly reminder that on Monday October,  4th, 2010,  the upfront and monthly mortgage insurance premium for most FHA programs are going to increase. A borrower must have a contract (for purchases) and application into a lender to draw a case number from HUD by October, 4th. 

Also the upfront one-time fee is dropping from 2.25% to 1.% however the monthly MIP fee  is increasing from .55% to .85-.90%. These changes will increase the monthly payment for Kansas City home buyers.


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Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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