There are 2 other changes coming that I wanted to bring to your attention. First, on FHA loans, the monthly mortgage insurance premium will be increasing again by 25 basis points as of 4/18. The reason for this increase is the FHA has done a review of their portfolio and have determined the increase that occurred late last year was not enough to offset the risk they have.
The other big change has to do with the loan limit of the high balance conforming loans. Currently the high balance conforming loan limit is $729,750. This limit is in existence due to a temporary extension which has been happening since the beginning of 2009. It is my belief that the current extension which runs until 9/30/11 will not be renewed. As a result, it is highly likely that the high balance conforming limit will go down to $625,500 as of 9/30/11.
I hope you find this information helpful.
Thanks,
Gabe Bodner
