Archive for April, 2013

The Good News and Bad News on Mortgage Financing

There are several changes that went into effect at the beginning of April that may affect you the next time you purchase or sell your home.  Let’s start with the bad news: FHA has once again increased their monthly Mortgage Insurance (M.I.) premiums by .10%.  This means that starting April 1, 2013 all new FHA insured loans will carry a monthly M.I. of 1.35%.  Just to put things in perspective this M.I. rate was only .55% at the end of ...

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