Post has attachment
I was hesitant about using another small business loan service after experiences with other lenders, but Lendio was very different. The process was simple, they were very direct and made sure they fully understood what I was expecting as a business owner and needed to happen. The process took about 2 weeks and I would use them again.
- Neal Bitner
See more reviews on http://financingelite.com/

FHA makes an announcement that are going to change things in the very new future that will cost a home buyer more $$.  First, the annual renewal is going up, yet again.  The increase in a minimal 10 basis points but any increase makes homes slightly less affordable putting additional pressure on an already tight market.

Part two of their plan is the doozy!  Right now, FHA annual mortgage insurance renewals expire when the loan reaches 78% of the loan to value of the home.  With the pending change, FHA will continue to charge the same premium for the duration of the mortgage term until it is paid off.

If you are in the market to buy a home in the future - rates are low and house values look like they have gotten to the bottom - consider buying sooner than later to avoid this government increase to the mortgage insurance term which will save you tens of thousands of dollars over the term of the loan.  Call me to see how easy it is to buy a home with an FHA mortgage.

The Mortgage Community on Google is open for business!
Wait while more posts are being loaded