With all FHA mortgage applications on April 18, 2011- monthly FHA mortgage insurance premiums are being raised .25. On a $163000 sale price with 3.5% downpayment- that equates to an additional $33/month- which may make some homebuyers not eligible any longer for the loan they were preapproved for.
This is another reason buyers needs to buy soon! Rates are rising & monthly payment will be going up with the higher interest rate & higher monthly mortgage insurance premium.
Call for more information, an application or preapproval- 440.452.3894 or apply 24/7 at http://www.firstplacebank.com/lizschneider