Thursday, March 10, 2011

FHA Insurance Premium Increase

I just wanted to let you know about the insurance premium increase for buyers buying Albuquerque Real Estate that are planning to use an FHA loan. As of April 18th the premiums will increase slightly but buyers should be aware. If, for example, a buyer was looking at a $175,000 loan amount, the payment will increase by about $36 per month.

However, this will help strengthen FHA which is important since some estimates show that they do carry 50% of the current loans generated today. Even though FHA is increasing this premium, their products are still some of the best out there are offer low down payments, even for those looking into Albuquerque Foreclosures. Rest assured that the FHA loan is still a viable option worth considering. just be clear on the guidelines including the condition of the home. you Realtor should be able to help with that.

If you have been considering buying, now may be a good time!

by Tim Fish

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