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FHA Changes 4/1/13

tootsie-roll-pop-owlDid you know there were some serious changes to the FHA loan on 4/1/13? 

That’s right, things are really starting to get deep in this market. As a buyer using this type of loan, you need to understand how these changes will affect you.

To what degree?

Well…here’s the simple breakdown:

As of April 1, the new MMI (mutual mortgage insurance) rate goes up to 1.30 from 1.25 annually for 30 year fixed rate mortgages.  The UFMIP (Up Front Mortgage Insurance Premium) stays the same.  The time required to keep the mortgage insurance is increasing 11 years and minimum LTV (Loan To Value) is 78%.

Here’s the official documented change:

http://portal.hud.gov/hudportal/documents/huddoc?id=13-04ml.pdf

Bottom line is you’ll want to refinance when an 80% LTC (loan to value) is reached. But what will rates look like when you’ve built enough equity or your home has appreciated enough that you owe less than 80% of the loan to the value of the house…hmmmm, well it’s just like the Tootsie owl:

The world may never know.

 

Posted in: Blog, Real Estate in San Diego, San Diego North County Real Estate Tagged: FHA Loans, Mortgages, North County San Diego

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365 Things to do in North County San Diego updated their cover photo.

3 weeks ago

365 Things to do in North County San Diego

Hello April! Looking for things to do in North County San Diego?
Get the scoop on our blog at: 1850realty.com/things-to-do-in-north-county-san-diego-in-april-2018/
...

Hello April! Looking for things to do in North County San Diego? 
Get the scoop on our blog at: http://1850realty.com/things-to-do-in-north-county-san-diego-in-april-2018/
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365 Things to do in North County San Diego

3 weeks ago

365 Things to do in North County San Diego

Hello April! Don't be fooled. We have a full list of exciting festivals, hikes, and new places to go! Enjoy some delicious avocado's at the Fallbrook Avocado Festival. Get outdoors & enjoy our beautiful city with a hike at Calaveras Hills or Torrey Pines. Head out on Friday night with the family at Cruisin’ Grand in Escondido for people watching, hot rods & good times. Spring is in the air & there’s plenty to enjoy this month!
1850realty.com/things-to-do-in-north-county-san-diego-in-april-2018/
...

Hello April! Dont be fooled. We have a full list of exciting festivals, hikes, and new places to go! Enjoy some delicious avocados at the Fallbrook Avocado Festival. Get outdoors & enjoy our beautiful city with a hike at Calaveras Hills or Torrey Pines. Head out on Friday night with the family at Cruisin’ Grand in Escondido for people watching, hot rods & good times. Spring is in the air & there’s plenty to enjoy this month!
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365 Things to do in North County San Diego

1 month ago

365 Things to do in North County San Diego

Day trip to Ramona Valley Wine Country - Did you know that Ramona has received it’s own designation as a wine region? The Ramona Valley AVA is growing in popularity with over 24 vineyards to visit. Take a Sunday drive out on East Hwy 78 towards San Pasqual Valley, plan a day of touring a couple vineyard tasting rooms while soaking in the valley views. Most tasting rooms are open on the weekend while others require an appointment. Check out all the details at: www.ramonavalleyvineyards.com/ ...

Day trip to Ramona Valley Wine Country - Did you know that Ramona has received it’s own designation as a wine region? The Ramona Valley AVA is growing in popularity with over 24 vineyards to visit. Take a Sunday drive out on East Hwy 78 towards San Pasqual Valley, plan a day of touring a couple vineyard tasting rooms while soaking in the valley views. Most tasting rooms are open on the weekend while others require an appointment. Check out all the details at: http://www.ramonavalleyvineyards.com/
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365 Things to do in North County San Diego

1 month ago

365 Things to do in North County San Diego

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! 1850realty.com/things-to-do-in-north-county-march-2018/ ...

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! http://1850realty.com/things-to-do-in-north-county-march-2018/
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365 Things to do in North County San Diego

1 month ago

365 Things to do in North County San Diego

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! 1850realty.com/things-to-do-in-north-county-march-2018/ ...

Hello March! This month brings all sorts of change. We spring forward and celebrate a new season. There’s all sorts of things for you to do with friends & family. Like photo opportunities at the Carlsbad Flower Fields or spending a day in Ramona Valley wine tasting. The Spring happenings are abound. Check out our extensive list of things to do. Enjoy! http://1850realty.com/things-to-do-in-north-county-march-2018/
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