FHA Annual Mortgage Insurance is Going Down! Can you believe it? On January 26th, 2015 HUD will be reducing the FHA Annual Mortgage Insurance Premium (MIP) by 0.50% on 30-year loans! The announcement on January 7th was unexpected, appreciated and much needed. Finally FHA will be more affordable, helping new home buyers qualify and helping other home buyers qualify for a higher purchase price.
How Much is FHA Annual Mortgage Insurance? Even though it’s called Annual Mortgage Insurance you pay for the annual policy in 12 equal monthly payments. The payments are included in your monthly mortgage payment.
We all know the old line about location, but to really discover the right place takes research times three.
How much you can comfortably afford –Beyond pre-qualification, the pre-approval process is the best way to determine the number that’s right for you. More than just a conversation, pre-approval entails full documentation and a credit check. The comprehensive review of all this info will help to determine early, what is truly available to you. Better still is that there aren’t any hurdles left to cross before you can … (2 comments)
Home loan payments are now often less than paying rent!
Renting can make good sense – for those that don’t intend to stay in their home for long, need extra mobility or have highly uncertain employment prospects.
If you’re planning on sticking around – there are several very solid reasons why owning can prove to be more rewarding.
Rates are at Historic Lows – and if that weren’t already enough, prices are low too. This is an unusual and probably once in a lifetime combination. Together, the real cost … (2 comments)
I literally fell into this business, 42 feet to be exact. Straight down an elevator shaft 17 years ago. Ever since I have been a Colorado loan officer - My goal is to always make the loan transaction as stress free as possible and to always close on time. For some reason lenders forget that contract dates actually mean something. Go figure...right? Weird, I know! - I Currently sponsor weekly training webinars that feature ways to help your business by presenting cutting edge, innovative technology, strategies and transforming ideas to meet current market conditions. - I believe that success breeds success and that we are at our best when we are helping others to succeed. Basically a Zig Ziglar fan. :)
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