FHA Monthly Premium Increasing
March 9th, 2011 Beginning after April 18, 2011 an additional 0.25% fee will be added monthly to FHA loans. This increase was deemed necessary by the FHA in order to increase their reserve funds to the required 2% level which are currently not being met. However, this is the third such recent increase and while it will not impact existing borrowers with FHA loans, all new borrowers after its enactment will be subject to the new fee. For a median priced home purchase this is anticipated to add just over $30 a month to their payment. There was no change to the upfront MIP which will remain at 1.0%.
Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.
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Client Testimonials"Being a Home Builder, and Real Estate Investor in the Tucson area for over 35 years we have worked with Stephen Woodall on multiple transactions. Without a doubt, we would highly recommend Stephen to anyone in need of buying or selling Real Estate." - John & Paulette View More Testimonials
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