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Thursday, March 1, 2012

Buy now (in March) and save $264/ year in payments!

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.  :)