The FHA race is on!

On April 9th the upfront cost of an FHA loan will increase from 1% to 1.75% and the monthly mortgage insurance premiums will increase from 1.15% of the loan amount to 1.25%. With a median sales price of $119,900 in February for Franklin county the change in costs if $952.23 at the time of purchase and an additional $9.64 in monthly charges.
If you are currently shopping for a home and considering FHA financing there is still a short window to take advantage of the lower costs. Contact me so we can reserve an FHA case number for your purchase prior to April 9th 2012.

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