Will the new lower FHA Insurance Rates benefit you?
Although the President announced new lower Insurance Rates for FHA borrowers, not everyone will benefit from this reduction.
As with any financial decision. This must be reviewed and based on YOUR OWN PERSONAL FINANCIAL SITUATION!
Discuss with your loan officer the different loan options and programs available before making your final decision. Make sure they take into account your current Credit Report, Paystubs, Tax returns and Liabilities. Depending on these, and others your loan officer might consider as well, you might be better off choosing a Conventional Loan Program with only 5% down.
Also take into account that Mortgage Insurance Premiums on Conventional loan usually disappear when the loan reaches a 20% equity, while FHA Insurance Premiums now remain for the life of the Loan.
An easy Math calculation can let you know the difference in payments and which route is the best one for YOU!
For additional information on this, read the article below by the Miami Herald:
http://www.miamiherald.com/living/home-garden/article6600525.html
When you are ready to buy or sell, call me and I will help you reach your goals!
Maria T Villalobos
Real Estate Consultant
Public Notary
Cell. 786-285-5855
info@bestmiamihomes.net
As with any financial decision. This must be reviewed and based on YOUR OWN PERSONAL FINANCIAL SITUATION!
Discuss with your loan officer the different loan options and programs available before making your final decision. Make sure they take into account your current Credit Report, Paystubs, Tax returns and Liabilities. Depending on these, and others your loan officer might consider as well, you might be better off choosing a Conventional Loan Program with only 5% down.
Also take into account that Mortgage Insurance Premiums on Conventional loan usually disappear when the loan reaches a 20% equity, while FHA Insurance Premiums now remain for the life of the Loan.
An easy Math calculation can let you know the difference in payments and which route is the best one for YOU!
For additional information on this, read the article below by the Miami Herald:
http://www.miamiherald.com/living/home-garden/article6600525.html
When you are ready to buy or sell, call me and I will help you reach your goals!
Maria T Villalobos
Real Estate Consultant
Public Notary
Cell. 786-285-5855
info@bestmiamihomes.net
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