FHA annual mortgage insurance premium (MIP) will increase effective April 18th 2011

In an effort to increase capital reserves and maintain the stability of the FHA; The   FHA will increase its annual MI premiums by .25% effective 4/18/2011 on all 15 and 30 year loans.  The upfront MIP will remain at 1.0 percent.  The increase could be an additional $30 per month in buyers expenses.

The low downpayment of  3.5% by FHA is still attractive to most buyers. 

So if you are looking to buy a home in Brooklyn now is a good time to get off the fence.

Michele Cadogan


Fillmore Real Estate

Licensed Real Estate Associate Broker


Source: hud.gov

About Cadogan's Brooklyn Real Estate Blog

Michele Cadogan is a Brooklyn NY real estate professional . She makes the process of buying, renting and selling real estate in Brooklyn a good experience. A long time Flatbush Brooklyn resident, she has a tremendous appreciation of the borough, its great history and its diverse communities. With a degree in Political Science and Economics she brings a balance perspective to the your real estate experience. Truly a professional in a people oriented business. When looking for a real estate agent in Brooklyn to help you buy or sell a home in Brooklyn , call Michele. Michele Cadogan Fillmore Real Estate Licensed Real Estate Associate Broker 917-861-9166 Your Brooklyn Real Estate Professional
This entry was posted in Brooklyn Real Estate, Brookyn Homes for sale, East Flatbush homes for sale, East Flatbush Real Estate For Sale and tagged , , . Bookmark the permalink.

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