FHA announced an increase in the mortgage insurance premium. As of today (2/28/2011), the FHA mortgage insurance premium is .90% of the loan amount, payable montly. 
Effective on April 18, 2011, the premium will increase to 1.15% of the loan amount. What that means to a buyer is that on a mortgage with a $250,000 loan amount, the payment will increase by $52 each month. A purchaser has to have a contract registered by April 15, 2011, to get the .90% rate. As mortgage rates rise the fees are getting higher for loans. It's a great time to buy!
Call Sue or Dipper Today!
410-707-1840 Sue@BrazzelDazzle.com 443-745-4406 Dipper@BrazzelDazzle.com
http://localism.com/neighbor/suebrazzel
