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You are here: Home / Blog / FHA Mortgage Insurance Premiums to Increase – May Affect Albuquerque Home Buyers!

FHA Mortgage Insurance Premiums to Increase – May Affect Albuquerque Home Buyers!

April 12, 2011 John Kynor Leave a Comment

Mortgage

mortgage

An important reminder that the monthly Mortgage Insurance Premiums on FHA loans rises from .90% to 1.15% next Monday, April 18th. On a purchase price for a $125,000 home this will result in an increase in mortgage payments of about $25 per month. In some cases, this could put a home buyer in a position where they may no longer qualify. If you are thinking about buying a home and using an FHA mortgage, you need to be under contract to purchase a home and have an FHA case number assigned in order to guarantee that you get the lower mortgage insurance rates.

Do not wait until it is too late!

Thumbnail Image Provided By Rev Dan Catt

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Filed Under: Blog, Mortgage News Tagged With: fha, first time home buyers, mortgage, Mortgage Insurance

About John Kynor

John Kynor is the Founder, CEO & Qualifying Broker of Q Realty®. John has enjoyed over 15 years in Albuquerque real estate and is a multi-million dollar producer. He founded Q Realty® in 2012, which quickly became one of the top real estate companies in Albuquerque ("The Q"). Contact John at John@Qrealty.com with any questions.

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Q Realty® is an Albuquerque real estate company and is locally owned and operated. Q Realty® or "The Q" was founded on the principals of outstanding customer service and we have earned the reputation of being the most “customer-centric,” honest, ethical and professional real estate company in Albuquerque. We treat our customers how we like to be treated.

Real estate used to be considered a sales industry and many companies still treat it as such, but not Q Realty®. Consumers do not like the feeling of being “sold” and neither do we. Instead we “serve” and “help” our customers with their real estate needs. As a result of our dedication to first class customer service Q Realty® earned a spot on Albuquerque Business First's list of the top 25 Real Estate Brokerages in New Mexico, as measured by the number of homes sold and the total value of homes sold by each brokerage

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