FHA Changes Quickly Approaching

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Real Estate Agent with Keller Williams

FHA INCREASING MIP

 

Effective April 18, 2001, the cost of obtaining an FHA loan will be increasing.  Mortgage Insurance premiums will increase 25 basis points.  Buyers must have have a FHA case ID number before this day. They are not required to close the transaction before this day.  

How much will this cost? On a $200,000 mortgage, this will result in a monthly payment increase of $41 per month.  The FHA loan limit for the Columbus GA area is $271,050.  Many buyers choose FHA loans because they only require a 3.5% down payment.  Also with FHA loans, the seller can contribute up to 6% in closing costs.  

Ashley Pezold

Keller Williams Realty River Cities

www.ashleypezold.com

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ga real estate homes fha loan financing mortgage

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Rainer
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Sidney Kutchuk
Property Management & Sales at REALTY WORKS TEMECULA, CA 92590 (951) 217-6745 - Temecula, CA
Property Management & Sales Experts 951-217-6745

Thanks for the heads up. I have an FHA loan in progress and will confirm tomorrow that my client has been given a case#.

Mar 27, 2011 04:56 PM #1
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Rainer
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