All borrowers who use the FHA Mortgage have to pay a fee of 2.5% of the loan amount which is added to the loan amount. On a typical mortgage amount of $150,000 X 2.5%=$3,750. It will now go to 1% or in this example $1,500 added to the loan amount. This is good news for the consumers. The new rule goes into effect on October 4, 2010.
THE DAWSON TEAM
WILLIAM DAVIS REALTY / DFW
17732 PRESTON RD. #100, DALLAS, TEXAS 75252 PH: 972-661-1498 FAX: 972-761-1905
Website www.RoyDawsonHomes.com E-mail Roy@RoyDawsonHomes.com
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