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INCREASED COST TO BUYER'S USING FHA BACKED LOANS

By Margaret C. Taylor

Real Estate Agent with Century 21 New Millennium MD

February 19, 2011 07:29 AM

There will be an INCREASED COST TO BUYER'S USING FHA BACKED LOANS. New Buyer's using FHA-insured mortgage loans may see an increase in their monthly payment

This is not due to interest rates increasing but due to increases in the annual mortgage insurance premium PMI.

Read the February 17, 2011 RISMedia article FHA Takes Steps to Bolster Capital Reserves to find out more about these changes.

I am Margaret C. Taylor REALTOR® sharing information and events in St Mary's MD.

I am qualified to help you buy or sell your home. YOU need a Buyer's Agent to represent YOU.

ASK A QUESTION HERE RealEstate@MargaretC.com

CALL or TEXT 301 481 8407 for a FREE Consultation

I am a Century 21 New Millennium Real Estate Agent. Ask for MARGARET C.

I welcome your REFERRALS.

INCREASED COST TO BUYER'S USING FHA BACKED LOANS

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Indera Coggins

Re/Max 100 - Dunkirk, MD

Hey Margaret, it seem like a buyer would have to pay an extra $200. per month for MI. That's a shame because first time home buyers barely have closing much less more money for their monthly payment.

Be interesting to see where our business will take us.

Have a great weekend.

Feb 19, 2011 08:50 AM

INCREASED COST TO BUYER'S USING FHA BACKED LOANS

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Margaret C. Taylor

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