GREATS NEWS, FHA mortgage insurance has been cut in half. You can finally take advantage of the LOW interest rates. On January 26th, the Federal Housing Administration (FHA) announced a 50-basis-point premium cut on FHA loans. (Read more at NationalMortgageNews.com). In plain English, this means that homeowners who were once ineligible to refinance their homes are now able to re-apply under less stringent refinancing criteria. The FHA stated, “Borrowers that took out FHA-insured loans will be prime candidates for refinancing.”
Here’s a refinance example for you to consider:
Current Mortgage Balance: $200,000.00
New Fixed 30-year PI Payment at 3.5%: $898.09 / month (APR 3.605%*)
New Fixed 15-year PI Payment at 2.875%: $1,369.17 / month (APR 2.98%*)
New 5-year ARM Payment at 3.125%: $856.75 / month (APR 3.23%*)
One size does not fit all when it comes to refinancing, which is why we’ve positioned ourselves to offer all mortgage programs under one roof. We care about you and your future, which is why we go the extra step to understand your circumstances and goals. Our job is to educate and empower you to make decisions that best fit your financial needs.
We’re here to make this process easy for you from start to finish. In just one phone call, you can lower your interest rate on your mortgage, lower your monthly payment, skip up to two mortgage payments, and even cash out to pay off debt. We are now seeing loans close as quickly as 14 days.
No hidden fees or out-of-pocket costs. Give us a call today for your free consultation: 816.363.3105