FHA increases Monthly Insurance Premium (MIP) starting April 18, 2011

The Federal Housing Administration recently announced an increase in their monthly insurance premium (MIP), starting April 18, 2011. While FHA loans are a great way for buyers to purchase a home with only 3.5% down, an increase in the MIP will affect your monthly payment. Consequently, this affects the maximum loan amount you can afford. … Read moreFHA increases Monthly Insurance Premium (MIP) starting April 18, 2011