Upcoming FHA Changes will reduce the amount of money that a borrower will qualify for. The table below Compliments of Vangie Villamil of VanDyk Mortgage, lays out the cost factors of what monies will cost you now and later when the changes take place.
On a $275,000 loan the difference will be $22.12 a month and a .061% increase. Not many live in a home for 30 years these days, but if you did, the difference in Mortgage Insurance premiums would be $73,200.68 over the life of the loan.
Never a better time like the present to buy your next home! For more information, contact Great Florida Homes or phone 954 695 7653.
This was originally posted at http://activerain.com/blogsview/3620196/upcoming-fha-changes-to-mortgage-premium-insurance
We are your South Florida Real Estate resource! Looking for a trusted vendor to work on your home? Questions about the real estate process? Our team can help! We offer seller incentives! We don't just LIST homes, WE SELL THEM!
3301 N University Dr
Coral Springs, FL 33065
2419 E Commercial Blvd
Fort Lauderdale, FL 33308
Licensed in Florida
Copyright © 2022 Keller Williams Realty. - a real estate franchise company. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. Each brokerage is independently owned and operated.