FHA Loan Alert

 

FHA Loan Alert

Well it has not been a good year for FHA and things are going to change.

The first of Feb. they are looking at raising the MI or up front mortgage insurance again!

What this means to you is it now will cost 1.75% of the loan amount to get an FHA loan, so on a 200,000.00 house that’s $3500.00 out of pocket, this is on top of the monthly mortgage insurance your still going to have to pay along with your payment each month.

FHA is still trying to offset this by filling suit on several of the large banks one of them for a Billion Dollars but first you have to win and then be able to collect and we all know how backed up the courts are.

So first time home buyers get in get qualified and go shopping for a house, don’t wait make your dream of home ownership come true today.

 

Comments are closed.

img img img

This is not a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant¹s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over life of loan. Reduction in payments may reflect longer loan term. Terms of the loan may be subject to payment of points and fees by the applicant. Equal Housing Lender. Utah Mortgage Loan Corporation. Serving you in: Salt Lake City, Utah

Copyright ©2015 Homeloansplaza.com