FHA PMI changes

[smiths38]

I am only interested in the FHA changes to PMI,not the score and DTI change.So is it April or June?

[StartingOver10]

Both. There are two changes to the PMI. The PMI premium is going up from 1.25% (that is the current cost of the PMI and has nothing to do with rate) to 1.35% of the amount borrowed as of April 2013.

AND

The second change is extending the PMI term to lifetime beginning June. Now you can drop it once the principal is 78% of the original amount borrowed, but you will no longer be able to drop it for mortgages originated on or after June 3, 2013.

[MovingForward_2012]

+1