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A Lender Note…

I get emails from a LOT of people…just like many of you.  However, I try to take from that rash of emails information that might be important to pass along to others.  This is one of those instances:

Effective for all case numbers assigned on or after April 1, 2013 the monthly mortgage insurance premium on FHA 30 year fixed rate loans increased from a factor of 125 basis points to 135 basis points. On a $100,000 purchase with 3.5% down that’s a monthly increase of $7.91. Case numbers are assigned when a property goes into contract. (more…)

Clock is Ticking – Save Money – Buy NOW!

You’ve either heard me say it before or read it – NOW is the time to buy a home… WHY??clock

  • Tax. Credit. expires April 30, 2010 : for First Time Home Buyer = up to $8,000 and for Current Owner = up to $6,500!
  • FHA guidelines are set to add .5% to the “upfront mortgage insurance premium” (ALREADY ISSUED)  AND
  • FHA will reduce the Seller’s ability to contribute up to 6% of your closing costs (reduces to 3%) starting this Summer.

CLICK NAR FHA changes coming 2010 to read more details about upcoming changes…

Just When You Think Your Voice Won’t Be Heard

As a Realtor, we are asked to “voice our opinion” and try to lobby for things within the real estate market that need to be protected / preserved / changed / updated / done away with.  Many times – the result of our one voice may seem lost in the multitude of so many others – but here is a reply I received today that I thought I would share.  Preserving one’s ability to buy the American Dream is what have been fighting for! (more…)