Richfield MN Home Buyers: FHA Costs Going Up... by Twin Cities Homes for Sale
On February 14 2011, HUD announced an increase in the annual mortgage insurance premium for all 15- and 30-year single family home mortgages. This premium is charged monthly and added to the monthly loan payments. A 2.5% will cause an average payment to go up by about $30, as HUD states. Here is an example:
This change will reduce your buying power.
If you are shopping for a Richfield MN home and plan on taking out an FHA mortgage, you need to hurry to keep your monthly payment lower.
Call me TODAY to find your NEW HOME!
Contact Marzena M. Melby, GRI, CDPE, Keller Williams Integrity Realty. Licensed REALTOR® in the state of Minnesota
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