Monthly Mortgage Insurance Premiums (MIP) will increase effective April 18, 2011 and so if you are on the verge of buying a house with a FHA mortgage, consider pulling the trigger and applying for a mortgage by April 17th! The upfront premium remains unchanged at 1.0% of the base mortgage. In addition, down payment minimum remains at 3.5% and maximum seller concessions is still allowed at 6% of the purchase price.
For personal advice about buying and selling real estate in the Rochester area, don't hesitate to give me a call at 756-7457.
Sunday, March 27, 2011
FHA Mortgage Insurance Premiums Going Up
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1 comments:
I just wanted to add a comment here to mention thanks for you very nice ideas. Blogs are troublesome to run and time consuming thus I appreciate when I see well written material. Your time isn’t going to waste with your posts. Thanks so much and stick with it No doubt you will definitely reach your goals! have a great day!
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