Home > Blogs > Colorado > Douglas County > Highlands Ranch > Buy a house before April 18 !! 
107,326 views

Julie Reddington's Blog

By Julie Reddington | Broker in Highlands Ranch, CO

Buy a house before April 18 !!


FHA are starting to implement the new annual mortgage insurance premiums. With effective April 18 the new premium is 1.15% compared to .90% currently. As a result, a 30 year $200,000 FHA mortgage payment will increase over $42 per month with the standard 3.5% down.

 

This is the second increase since October and although there was a reduction in the financed portion of the mortgage insurance in October, the effect on a $200,000 mortgage has risen nearly $90 per month when both increases are considered.

 

The bill also gives the FHA the authority to raise the annual fee as high as 1.55 percent which would take it to an extra $152 month

So what does this look like :-

 

Based on loan of $200,000 at 5%

 

 

      Loan today at 0.9%

    Loan after April at 1.15%

Loan amount

$202,000

$202,000

Payment

$1083

$1083

MMI

$152

$194

Total payment

$1235

$1344

 

Up $42 month

 

So what does this mean ….

 

IF YOU ARE GOING FHA, IT WILL BE CHEAPER TO BUY A HOUSE TODAY BEFORE April 18, 2011. 

 

 

So “Who you Going to Call”

 

For the full article, CLICK HERE

Julie Reddington
720 226 4168

http://JulieReddingtonRealEstate.com

 

 

 

Search for Homes in Denver Metro here

 

Search for Homes in Highlands Ranch

 

Relocating ???

 

 

My Testimonies

 

 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer