Just a reminder if you are working with a first time home buyer or someone planning to use FHA for their loan; the costs for the mortgage insurance premium will be increasing in 26 more days.
Take advantage of the lower costs now by ordering your FHA case number before April 5th.
FHA loans have been the most competitive options for low down loans (only 3.5%), poor to average credit borrowers, and for condominium purchases with less than 20% down.
After April 5th, they will not be as competitive.
If you have a client that fits into one of these options and have questions, feel free to call or email.
Cheers,
Mike Echery
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