Is FHA Mortgage Insurance REALLY going to increase by 25%?
It's true. FHA announced it is increasing monthly mortgage insurance from .90% to 1.15% - a 25% increase - effective April 18th, 2011.
But that doesn't have to be bad news for all my clients. Watch this video and learn how I "taylor fit" each loan to my clients based on their needs.
You can reach me at 541-868-1050 or email me at loansbyellenadams@gmail.com if you have any questions.
Enjoy!
Ellen, it will be interesting to see what happens with the FHA Mortgage Insurance. I'm hoping there will soon be alternatives for buyers.
Ellen, as usual thank so some good information. I try to "taylor my real estate services" to my clients needs also. LOL
Don: Yes I really believe coming downthe pike there will be more avenues to help the FT home buyers qualify. Remember the Government now owns FHA, Fannie, & Freddie. They will go out of business if something doesn't change. I used to do loans all the time in Nampa , Id. I orginated USDA loans over there. one realtor and I cleaned up the town one yr. it was fun & how i really got my start in 1995 Good luck in 2011!
Cheryl: yes, sometimes that is what we need to do , lower the sales price. they have a Champagne taste on a beer budget. I guess as LO's you & I get to be the ones to deliver that news. But I also tell them about the tax advantage of being a homeowner and how they can change their exemptions with their employer and create $50.00 to $100.00 dollars more in take home pay. You would be surprised how many people never thought of that.
Suzanne: Thanks for keeping our industry full of professionals that care about people not the dollar.
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