FHA Insurance on Loans to Increase in April 2011

FHA to Increase Mortgage Insurance Rates: If you are a first time homebuyer this is important news for you. FHA loans that originate after April 18th of this year are going to have higher mortgage insurance rates. The rate will increase by $250.00 for every $100,000. that you borrow. For first time buyers this increase can be significant so if you are on the fence and want to buy now is a good time if you are a first time homebuyer. Aloha, Gina