FHA Mortgage Insurance is set to go up from 0.9% to 1.15% on April 18th which will increase your monthly payment. If you know anyone looking to buy with an FHA loan please tell them they must be in contract and have an FHA case number assigned prior to April 18th!
What does this mean for you?
On a $200,000 purchase you will be paying $40 more every month. If you know anyone that might be looking to buy with an FHA loan then please make sure they are aware of this coming change. Thank you.
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