Richfield MN Home Buyers: FHA Costs Going Up... by Twin Cities Homes for Sale

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Real Estate Agent with Coldwell Banker Burnet Realty MN Broker# 20588319

  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:

FHA MIP increase Aprill 18 2011

 

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!

612-267-6798

 

 

Contact Marzena M. Melby, GRI, CDPE, Keller Williams Integrity Realty. Licensed REALTOR® in the state of Minnesota

 Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Keller Williams Realty, or its other partners or agents.

 

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Marzena Melby

Realtor, Twin Cities Minnesota Real Estate
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