FHA Rates scheduled to increase in April - Blog

FHA Rates scheduled to increase in April An increasing number of Buyers are purchasing their home using an FHA Mortgage. FHA Mortgages enable a Buyer to put down as little as 3.5% of the Purchase Price and then to finance the remainder. Effective in mid-April, the monthly "mortgage insurance" associated with FHA Mortgages is set to increase. While this will not affect those with an existing FHA Mortgage, Buyers who are haven't yet gone through the application process may be impacted by this increase. If you are planning a purchase this Spring, contact me for more details on how this change in FHA terms may affect you and how we can "fast track" your home search in order to avoid this increase. Posted by Marilyn Holda-Fleck @ 10:05 AM on 02/26/2011 Tags: Garwood, NJ Cranford, NJ Downtown Westfield Fanwood, NJ FHA Mortgage Kenilworth, NJ Scotch Plains, NJ Union County Westfield Westfield Schools Westfield, NJ

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