In June of this past year FHA changed their guidelines so that MIP is paid for the entirety of the mortgage term instead of canceling after 5 years plus they raised the amount of the MIP.
You may want to consider a convention mortgage with 5% down payment instead of 3.5%, MI on conventional mortgages is usually much lower than FHA. If you and your girlfriend can swing 10% I can do a 80-10-10 with no MI!
Let me know if you need to get pre-qualified to put an offer in, you can go to my secured website and apply 24/7, get a free credit report and a pre-approval letter for qualified borrowers in 15 minutes! Plus $150 off your closing costs!
My team is one of the top1% producing teams in the country and we do our own underwriting in house, our turn-around time is less than two weeks for closing once all the documents are in.
Give me a call, I would be happy to work with you
Mary Kay Laurent Associate Vice President of Mortgage Lending firstname.lastname@example.org
o: 773.516.6859 - m: 312.403.4150 - f: 773.516.6014
3940 North Ravenswood , Chicago, IL 60613 NMLS ID: 870598
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