The FHA loan-limit reduction only lasted less than a month? before being raised back up again by Congress. Hopefully, the VERY high up front and monthly MIP will deter a lot of buyers and refinancers from applying to use this program to obtain “jumbo” financing. Since none of that MIP $$ is applied to principal and interest, I can’t imagine this program would be that attractive to those who want their their monthly cash outgo to be tax deductible and/or apply to the principal of their mtg.
