As of July 14, 2008, FHA will be pricing their Zero Down FHA loans at tiered pricing for UFMIP, or up front Mortgage Ins premiums.  So, the higher the credit score, the lower the UFMIP.  Actually a a good thing for higher credit scores, but a slightly higher premium for credit scores that are lower.

For more info on the scoop on UFMIP changes, please call me.  For information on the 0 down FHA purchase money being offered up to $355,000 for single family homes, please email me.

Enjoy the 4th of July Holiday and remember that as the stock market falls, so do rates.  Remember what happened last week in stocks.

Andrew Schmidt, Nations Home Funding, Inc. BK0905991

ACSchmidt4@aol.com