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June 3, 2013: FHA cancellation changes go into effect today.
On the heels of the recent pricing change that increased the short-term costs of FHA MIP, today's changes mark a significant increase in the long-term costs of FHA financing for some borrowers. | |
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|  | For loans with FHA financing and an LTV > 90%, borrowers will have to pay for mortgage insurance for the entire term of the mortgage. |
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| | For those loans with an LTV ≤ 90%, borrowers will be on the hook for as many as 11 years. | |
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| These changes could cost your borrowers 4x more over the life of a loan when compared with Radian MI*.
Ask yourself, if it was your mortgage what would you do?
To learn more, go to www.radian.biz/MIvsFHA or reach out to yourRadian Sales Representative today.
*Comparison reflects Radian's BPMI monthly premium rates.
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