Want to save more money by buying now rather than after April 1, 2012?
FHA mortgage insurance is increasing to a 1.75% up front mortgage insurance premium (currently 1%) and 1.25% for the monthly mortgage insurance premium (currently 1.15%) on April 1st, 2012.
I calculated the increase in payment on a $170,000 sales price home and it would be $22/month ($264/year, $3168 over 30 years).
Buy now (in March) and protect yourself from this increase. :)
Top three: All time most viewed
Even with my 20 years in the mortgage business, I double check all guidelines because they are continually changing. I had a call from som...
FHA loans in 1991: When I became a mortgage loan originator in 1991, I couldn't believe that there was a loan product which allowed all...
Know How To Recognize A Good Mortgage Rate Mortgage lenders are often asked if there is a best time of day, day of the week, or period of...