FHA loans getting more expensive

FHA loans with the minimum 3.5% downpayment are going to require a more expensive monthly mortgage insurance effective April 1, 202. On a $100000 sale price with 3.5% downpayment, it’ll raise the monthly payment $8.04. Just another reason for buyers with good credit that want to purchase a single family owner occupied property to do a conventional 3% downpayment program- lower down payment, NO upfront mortgage insurance (lower loan amount) and lower monthly payment.


About lizschneider66

Mortgage consultant with over 19 years experience. First time buyers, move up buyers, construction, FHA/VA, Jumbo loans, investment property purchases, & refinances- I will find the solution to financing the American dream of homeownership! Subscribe to my blog and never miss any mortgage industry news. I am Vice President of the North Coast Building Industry Association, Lorain County Association of Realtors, Working Women Connection and Womens Council of Realtors.
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