As we all have heard, FHA Mortgage Insurance is lowering the Monthly MI by 25 BPS.
What this means to existing and new home owners.
To the existing home owners that are in a FHA loan and cannot get into a Conventional loan for either LTV, Credit, or Debt To Income. We have a new solution for you. All borrowers that are currently in a FHA Loan are paying .85 or higher on the Monthly Mortgage Insurance. This alone means that you can do a Stream line refinance with very minimum cost to have a significant decrease in monthly payment.
To the new to be homeowners. This is a even better time to get into a home with 3.5 % down or in some cases 0% down. Even though we have seen a rise in interest rates. With the Lower Monthly Mortgage Insurance, this could put you into more of a house.
As we are in our first quarter of 2017. This is a great time to buy a home. Don't believe the hype that we are going into another recession this year or even 2018. Even though Interest Rates are in the 4's. With the Lower Mortgage Insurance you will see a low monthly payment.
Monthly Mortgage Insurance went from 85 bps to 60 bps on over 95% Loan To Value 30 year loans.
Please go to my link Robert Krowel to learn more about refinancing or purchasing a home.
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