Mid-April there are going to be changes to the FHA loan – yes…again. Starting April 18th FHA loans will be going up 25 “basis points.”
No need to get into the technicalities of what this means, what will change for you is that for every $50,000.00 of house (more or less), you will be paying about $10/month more.
FHA is looking to increase the reserves they have in the Mutual Mortgage Insurance Fund which makes FHA 3.5% loans possible.
If you are looking to buy a house with 3.5% down, email us at [email protected] We’ll make sure that you are taken care of.