Hello Friends, Family and business partners! I hope the first moth of 2015 was wonderfully prosperous for all!
I’m writing today to inform everyone of an exciting change in FHA insured mortgage lending. On January 26th, the FHA significantly lowered it monthly mortgage insurance factor from 1.35% to .85%! This .5% drop makes a huge difference in the total monthly payment attached to FHA loans! For example: On a loan amount of $400,000, this translates to a monthly savings $167.00 per month! This not only saves borrowers money, it also increases their purchase power!
If you have taken out an FHA insured mortgage, the decreased mortgage insurance is also available for refinance transactions!
As always, please feel free to call or with questions ANYTIME. I’m always available as a mortgage resource!