BEWARE! Big FHA Increase on Monthly Mortgage Insurance Premium on April 18th....

By
Real Estate Agent with Coldwell Banker Schneidmiller Realty SP000

BEWARE! Big FHA Increase on Monthly Mortgage Insurance Premium on April 18th....Dream Home

On  April 18th, FHA will be adjusting the monthly mortgage insurance premium.  This could potentially have a big impact on buyers qualifying for a FHA loan.

For instance on a $150,000 purchase with an adjusted loan amount of $146,975, the monthly mortgage insurance will go from $110.23 per month to $140.85 per month.

If you are or have an FHA Buyer you need to see your lender as soon as possible.  This will save you hundreds of dollars if you buy now.

If a Buyer has good credit, there are other programs that will further save money. 

Give me a call if you would like additional information.

 

 

FREE MLS Propery Listings Search at: http://www.SellingNorthIdaho.com

Please contact:   

Pam Jank , Your North Idaho Real Estate Pro, with any of your Real Estate / Relocation / New Construction and/or Referral needs:

Pam Jank, Realtor, GRI, CRS, ABR, RRS, SFR, PPS
Previews Property Specialist
email to:pamjank@hotmail.com
Phone:  208-661-2282
Fax:  208-446-0660  Toll Free:  800-829-2555 EXT.1275
COLDWELL BANKER SCHNEIDMILLER REALTY
1924 Northwest Blvd
Coeur d'Alene, ID  838314

 Lake Coeur d'Alene Idaho Homes for Sale

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CONTACT INFO:

Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
Your North Idaho Real Estate Pro
www.SellingNorthIdaho.com - Your Free Local MLS Property Search Link
208-661-2282 or Toll Free 800-829-2555 ext. 1275
Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814
 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Tim Jank 04/06/2011 04:12 AM
Topic:
Home Buying
Location:
Idaho Kootenai County Coeur d'Alene Hayden Lake
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Rainer
51,467
Michael C. Price
Real Estate One - Ann Arbor, MI
Ann Arbor-Real Estate Strategist

Important info to know when the deadline approaches.

Mar 30, 2011 12:21 AM #1
Rainmaker
231,069
Pam Jank
Coldwell Banker Schneidmiller Realty - Coeur d'Alene, ID
Your Coeur d'Alene & North Idaho Real Estate Pro

Unfortunately, after April 18th, many FHA Buyers will loose thier qualification status due to the additional costs.

Mar 30, 2011 12:26 AM #2
Rainmaker
315,442
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Higher costs causes less buyers who qualify.

Higher costs causes buyers to qualify for lower purchase price.

Therby pushing prices down, causing sellers to lose equity and to wait longer for a buyer.

This can't be good for the housing market.

However, I do understand FHA's need to increase their reserves to cover all their foreclosure losses.

Apr 06, 2011 05:45 AM #3
Anonymous
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Rainmaker
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Pam Jank

Your Coeur d'Alene & North Idaho Real Estate Pro
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