A date FHA Buyers need to keep in mind! - 09/09/10 04:00 PM
 
 

For those FHA buyers that are monthly payment sensitive (which what buyers aren't today!), keep in mind a deadline in which FHA will make changes that will make your monthly payment go up.
On October 4th, FHA Mortgage Insurance upfront premium and monthly premiums will change. Here is a comparison of the current and future scenarios to help you grasp the difference and how it will effect your monthly payment.
Current FHA Scenario (30 Year Fixed)
-Upfront Premium  2.25%, Monthly Premium .55%
$200,000 Purchase Price
$197,342 Loan Amount$1,474.90  PITI Payment$90.27 Monthly Mortgage Insurance Premium
$1,565.17  TOTAL MONTHLY PAYMENT
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Laura Ivy Blessing

Cedar Park, TX

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Keller Williams

Address: 1335 E. Whitestone Blvd., Suite Z-200, Cedar Park, TX, 78613

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