FHA Reduces Mortgage Insurance Premiums - A Big Help to First Time Buyers in La Plata MD, Waldorf MD and Hughesville MD!
FHA has cut their typical mortgage insurance premium (MIP) to 0.85%, which is down from 1.35%. What does this mean? A new FHA loan of $300,000 would enjoy a savings of $125 per month, or $1,500 per year! Looking at it another way, this would also mean the same person who before qualified for a $300,000 home would not quality for a home with a purchase price of approximately $325,000. On top of this, rates are now near historic lows so if you are thinking of buying, now is most definitely the time.
If you are thinking of selling and would like to know how much your home is worth, Bernie Alvey will be happy to give you a FREE, NO OBLIGATION market analysis of your home. Bernie Alvey, Senior Listing Agent with Exit Landmark Realty, specializes in listing fine homes in La Plata, MD, Hughesville, MD, Charlotte Hall MD, Waldorf, MD and surrounding areas. Whether you are in the market to sell you home in Kings Grant, Agricopia, St. Charles, Country Lakes, Golden Beach or surrounding neighborhoods contact Bernie Alvey today to sell your home for top dollar!