Starting October 4th, 2010 FHA annual mortgage insurance premiums will match those of private mortgage insurance. The All My Sons of Oklahoma moving team annual premium will increase from .55% to .9%. However, the premium people have to pay upfront decreases from 2.25% to only 1%. Even if homebuyers don’t pay the premium up front, they’ll save money each month because the mortgage principal will be lower. For buyers who pay the upfront premium with cash, savings will be there for the first 58 months but then the cost will go up compared to the old law. If in that time a home goes up in value, then there could be savings with the new FHS fee structure. The FHA annual premiums can be canceled if your loan-to-value ratio reaches 78%.
If you find a home that you can afford a mortgage on and are ready to move in, call the Oklahoma movers for your stress-free move into your new place. We’re backed by generations worth of movers and have all the experience in the world. Our movers will assemble your furniture and help you move as efficiently as possible.
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