The Federal Housing Administration stated last week that it will raise premiums on new mortgages it insures. Increases are expected to be about 10 basis points.
The FHA is also planning to raise premiums for borrowers with jumbo loans – loans of $625,000 or more. These loans will have new down payment requirements of 5 percent up from 3.5 percent.
Given that most buyers these days have been conventional, there will be a minimal impact. Also, the rise in premiums is so nominal given the historically low rates, most FHA buyers will shrug this news off and pursue the home of their dreams.
Author:Kevin Kieffer Phone: 925-300-8000 Dated: February 10th 2013 Views: 845 About Kevin: Kevin R. Kieffer is a Broker Associate and Realtor with Compass. His primary focus is the East Bay r...
The EastBayPro Team of Compass Real Estate consist of the following professionals: Kevin R. Kieffer, Broker Associate, Naomi T. Kieffer, GRI, Realtor, Scott & Rochelle Maher, Realtors, Realtor, Matt Rubenstein, Realtor, Ken Wilson, Realtor, Taylor Pollard, Realtor & Heather Gowdy, Realtor. This team is ranked in the top 1% of Contra Costa County and are Five Star Agents as seen in Diablo Magazine - Offices in Walnut Creek & Danville - serving communities throughout the East Bay
Home ownership is commonly associated with a sense of accomplishment a
"We were incredibly lucky and blessed to have Charlotte Katz as our Redfin agent. Not only is she knowledgeable, but extremely patient and provided great explanations for our sometimes redundant questions. Never once did we see any signs of frustration from her and she always remained positive. She's got the perfect demeanor to be a real estate agent and potentially one who can train other Redfin agents. We are almost waiting on pins and needles for any of our friends to ask us "Hey, do you know a good real estate agent?" We'd jump at the chance to refer Charlotte."