FHA Raises Costs Again…

by traviss on March 5, 2012

FHA will raise the up-front mortgage insurance premiums to 1.75% and the monthly mortgage insurance premium to 1.25% starting April 1, 2012. This stinks.
The government is hitting up the home buyer to cover the payroll tax extension that was passed last year. This is a direct increase of 10 basis points in the borrower’s mortgage payment and has the effect of a 10 basis point increase in interest rates. If you are a buyer on the fence…don’t wait for these costs and rates to go up.

{ 1 comment… read it below or add one }

Jean March 5, 2012 at 4:37 pm

Thanks Travis! I’ve shared this on my FB and Twitter.

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