President expected to announce SIGNIFICANT reduction in monthly FHA mortgage insurance in Phoenix tomorrow!
What does the monthly reduction (from 1.35% to .85%) mean?
Current: $250,000 loan FHA Mortgage Insurance = $281.25/month
New: $250,000 loan FHA Mortgage Insurance = $177.09/month
Monthly Savings: $104.16/month
Summary...
-FHA Monthly Mortgage Insurance reduced by approximately 37%
-Interest rates have dipped AGAIN but will likely increase in 2015
-The market is somewhat flat, but we expect increased housing demand in 2015 (the return of the "Boomerang" buyer).
When the time is right to get serious about buying a new home give me a buzz. Kimber Devoe 623–225–9482
http://video.cnbc.com/gallery/?video=3000344563&play=1
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