Skip to main content
  1. News
  2. Business & Finance
  3. Industry

California FHA Loans: FHA Loans Fueling CA Housing Market, Changes to MI

FHA loans are fueling the California housing market, accounting for nearly 1/3 of  new mortgages used to finance a home purchase in CA.

FHA mortgage rates remain the same as conforming mortgage rates; however, there's some differences in closing costs and by differences I mean additional fees.

APR on FHA loans is significantly higher than that of a conventional mortgage because of MI and other fees charged by the Federal Housing Administration. MI, which is charged as a percentage of the loan amount just like origination and discount points, will be boosted to 2.25 on April 5th. So it's about to get more expensive to purchase a home with an FHA loan.

CA mortgage professionals may want to consider moving to FHA mortgage leads, that's where the market is headed, especially when refinance wanes. Also CA mortgage pros might want to consider a mortgage net branch alternative with FHA capabilities.




  • Sterling loses Clippers
    Donald Sterling loses big in court with no option for an appeal
  • Russia violating arms treaty?
    Russia is testing a long-range missile which violates an INF arms treaty
    World News
  • Ebola outbreak
    The Ebola epidemic in West Africa has proven to be quite difficult to contain
    Health News
  • Virginia same-sex marriage
    The ban on same-sex marriage is ruled unconstitutional in Virginia
    US News
  • Abigail Hernandez suspect
    A suspect is in police custody for the disappearance of Abigail Hernandez
  • Bachelorette finale
    'The Bachelorette' is in the books, which lucky guy got Andi's final rose?