Have you been thinking of buying a home? Excellent, I can help.
Are you waiting to see what happens with home prices? With so many foreclosures and short sales out there still having a negative impact on pricing there may never be a better time to buy.
Are you waiting to see what is going to happen with interest rates? They are staying historically low. Just this morning a lender told me that FHA has a 3.75% interest on a thirty year mortgage. Wow! In my lifetime I have seen the interest rates as high 20%… And now as low as 3.75%
Are you waiting for something to else happen?
Wait no more…
Here is some other news from the FHA, unfortunately, it’s not good.
The Federal Housing Administration will raise mortgage insurance premiums this April in order to repair the health of its emergency fund.
The FHA upfront mortgage insurance premium will increase to 1.75% from 1% of the base home loan amount. This will apply regardless of the term or loan-to-value ratio beginning in April. In addition, the annual mortgage insurance premium will increase by 10 basis points for loans under the $271,050 limit for single family homes in our area.
On a typical FHA 30 yr, $150,000 loan, these changes will increase the monthly payment around $18/month and add $1125 to the balance of the loan.
Call me, text me, email me, message me… Lets talk about your next home.