I mentioned a couple of weeks ago that FHA is raising the mortgage insurance April 1 by 10 basis points. That doesn't sound like much, but it adds up. It is their April Fool's Joke. At the present in most cases when you get 22% equity based on your purchase price it drops off your payment. On June 3 all the new loans will see the MIP become permanent for the life of the loan. So If you can move your time table forward a little, it could save you a lot of money. Call me at (615) 777-4663 to help you with this.
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