Let's talk real estate

August 17th, 2010 7:58 AM

Earlier this month congress passed a bill reducing the upfront money for MIP on an FHA loan and raising the monthly MIP premium starting with all case numbers assigned September 7, 2010 and after. On a $200,000 loan the upfront money is reduced $1,000. On the same loan the monthly premium will go up over $166 per month. Saving the buyer $1,000 upfront will put over $20,000 in FHA pockets.

Planning to purchase a home? Having a case number assigned by September 7 will allow you to purchase more home.

Posted by The Bobby Dean Team on August 17th, 2010 7:58 AMPost a Comment (0)
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