FHA Reduces Monthly Mortgage Insurance!

To Pay or Not To Pay…. That is the question. Hey, none of us WANT to pay FHA’s monthly mortgage insurance as part of our mortgage payment. But we have to pay to play right? Well, since FHA is so attractive in that it allows first time home buyers or those who have not owned a home within the last three years to only have to put down 3.5%, then we have to pick our battles so to speak. In allowing such a low down payment percentage, lending institutions need some kind of surety that their money is protected in case of default by the borrower. That’s all well and good just as anything else in life needs insurance – our cars, our health and the list goes on. So why not home loans right?

Well, just because any us with an FHA loan needs to pay mortgage insurance doesn’t mean we can’t get away with paying less. It was recently announced that FHA has reduced it’s monthly mortgage insurance premium calculation from 1.35% to .85%. What does that mean to you? Anyone who currently owns a home with an FHA mortgage or looking to buy a home using an FHA mortgage, you can now save a pretty sizable amount per month. We’re already saving borrowers between $100 – 200 per month!! That is between $1,200 – $2,400 per year!! What could you do with that kind of savings?

All you have to do is call and I can discuss your current scenario with you. We always look to see what is the best option for you on any loan that best suits your needs. But if FHA is currently the way to go, then you might as well pay the least amount possible. We’ll help you analyze every facet from the monthly mortgage insurance to your interest rate right up to the home owner’s insurance premium. Anywhere we can save you money we will look. We’re a dedicated mortgage company and you won’t have to compete with high volume loan files in front of you like you will with the banks. It’s quick, it’s easy and we won’t require any income docs, employment history and no appraisal will be needed. Let’s chat today about how much money you can now save.

Green House Mortgage is a full service home loan origination company in Tampa, FL and servicing the state throughout. If you have any questions or concerns with the article or simply need mortgage advice please call 813-732-3155 or email us at info@ghmortgage.com. We are dedicated to giving you the best mortgage consultation available. Green House Mortgage – It Pays to Go Green!