fha mortgage limits: Cost of a FHA home loan goes down January 27
- 01/11/17 07:29 AM
The cost of FHA home loan will go down $400 to $600 per year for the average buyer on January 27, 2017.
Per Bob Silva, Loan Office with V.I.P. Mortgage, "FHA has lowered their monthly Mortgage Insurance premium to 60 (.60%) basis points of the loan amount. This is a reduction of 25 bps and if you compare with conventional financing the minimum down payment is 3.5% compared to 5% for Conventional. This really brings FHA back into the fray considering that you would end up with a better interest rate and a substantially lower payment compare to Conventional monthly Mortgage insurance … (0 comments)
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fha mortgage limits: FHA loan limits go up in Maricopa County, Arizona
- 12/02/16 10:19 AM
Loan limits are going up in Maricopa County, Arizona, where the maximum loan amount for FHA is currently $271,050 and will be moving to $275,665,
Per Bob Silva, Loan Officer with VIP Mortgate, "To stay in line with the Fannie Mae increase in loan limits from $417,000 to $424,100 which becomes effective with loan applications taken after Dec. 10th ……FHA has followed suit to maintain their 65% of federal conventional loan limit
This means for Maricopa County the maximum loan amount for FHA is currently $271,050 and will be moving to $275,665 starting with Case numbers pulled on or after January 1st.
With the FHA loan minimum down payment … (4 comments)
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The cost of FHA home loan will go down $400 to $600 per year for the average buyer on January 27, 2017.
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