Changes coming 4/18/11 for anyone getting FHA financing on a home

By
Real Estate Agent with First Choice Real Estate

If anyone is looking for a property and is utilizing FHA financing.  If you enter an accepted offer or purchase and sales before 4/18/11 make sure that you have your lender/bank that is handling the financing for your purchase order the FHA CASE NUMBER before 4/18/11 so that you get the lower factor for mortgage insurance for FHA financing.

If you are currently looking for a home, access my web site at www.HomeSuccessWithSusan.com  to  see all the listings on MLS (Multiple Listing Services)  If you are a future seller I would be happy to prepare a FREE market analysis of your property. My cell is 413-222-7746

The current up front mortgage insurance is 1.00% of he total loan amount and the monthly is .90 of the loan amount.  Case numbers assigned on or after 4/18/2011 are the following

For loan terms >15 years                       

LTV                                                      Premium

>95%                                                    1.15

<95%                                                    1.10

For loan terms 15 years or less

LTV

>90%                                                    .50

<90%                                                    .25

Comments (2)

James Loftis
RealEstate911.com - West Palm Beach, FL
RealEstate911.com

Good information for buyers to know.

Apr 04, 2011 03:19 AM
Nicole Perry
Sothebys International Realty Osterville - Barnstable, MA

This is great info! Thanks for keeping current and letting us know!

Apr 18, 2011 08:28 AM