MARKET NEWS: Higher monthly payments for FHA loans after April 18th!

Posted on March 16, 2011 by Susan Johnson Team Charlotte | Lake Norman Real Estate Specialists

If you are considering a new FHA loan, after April 18th the annual MIP (Mortgage Insurance premium) will be a quarter of a percentage point(.25) higher for 15- and 30-year loans and increase monthly payments accordingly.  On average, borrowers will pay approximately $30/month more but if interest rates continue to increase, payments could be even higher!

How do you avoid this?  DO NOT WAIT!!

Call us at 704-439-5350 to learn more!

View source article

About Susan Johnson Team Charlotte | Lake Norman Real Estate Specialists

Susan Johnson & Associates Real Estate Agents in Charlotte | Lake Norman NC I am native to the area, live, work and play in the area. My children go to school here and I serve my community in this area. I love the region and I think its a great place to live! Together with my team, we have more than 21 years of combined experience in business, marketing, technology and communications, as real estate professionals in Charlotte | Lake Norman, we have also found that the key to providing the very best service is as simple as putting our clients first. This means keeping ourselves accessible, being good listeners as well as good communicators, and responding quickly. We look forward to sharing our expertise and working with you in all of your real estate needs in this region and across the country! Visit my website www.BuySellCharlotteLakeNorman.com
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