Cheryl Ellington, a lender with TowneBank Mortgage in Raleigh, NC, explains the upcoming FHA fee increase and what it means for buyers.
I recently sat down with Cheryl and she explained how the fee increase, 1% to 1.75%, would increase the monthly fee for buyers. This Fee is set to change on April 9,2012.
Check out our interview HERE.
If you are considering an FHA insured mortgage, whether it’s for purchasing a home, FHA streamlined refinance or other refinance, you’ll want to take action before the increased rates take effect. FHA case numbers are issued when you have a bona fide loan application (transaction) with a mortgage originator. So remember: Apply for a FHA loan on or before April 8, 2012 and save yourself some money.
Not sure what loan type if the best for you or how much you can afford? Then get pre-qualified NOW and allow Cheryl to help you decide!
Looking to buy or sell a home in the Raleigh, Durham, Chapel Hill, Carrboro, Pittsboro, Cary, Apex, Garner, Holly Springs, Wake Forest, Knightdale, Clayton or any of the Triangle communities, we are here to help. Please consider us your Triangle Experts in all things Real Estate. Interested in foreclosures, see all Cary foreclosures and Raleigh foreclosures NOW. Looking for great tips about Raleigh area real estate check out RTPLiving.com