FHA Annual Mortgage Insurance Premium to Increase
On April 18th, the cost of FHA loans is set to increase, which will affect home values in Signal Hill, Long Beach, and Lakewood. In many areas, over 70% of buyers use FHA financing. If you are a buyer, you may want to save money by finding a house today. If you are a seller, you may be able to sell your home for more money today than after April 18th.
This increase will cost FHA buyers more money each month and limit their financing capacity. To avoid the higher monthly payments, one must have an FHA loan application for the subject property prior to April 18, 2011.
