Feb 9, 2015
The Federal Housing Authority (FHA) announced that it will be cutting the annual Mortgage Insurance Premium rates by 0.5 percentage points, from 1.35% to .85%.
What does this mean for you?
If you were to buy a home or refinance with an FHA Loan in the amount of $200k, for example, you could save an estimated $83 a month, or $996 a year! In addition, convention mortgage rates are still at historic lows. Homeowners that have at least 20% equity in their homes, good credit, a non-delinquent loan status and a rate greater than 4.5%, would most likely benefit from refinancing.
So is now a good time to buy or refinance? I am happy to help you determine how the current financing rates and market can help you achieve your goals.
8 Lafayette Place, Suite 203
Hilton Head Island, SC 29926
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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