While it was expected that mortgage applications would fall due to an increase in the FHA premiums, it wasn’t expected to drop nearly 30%. This is why I had urged many to get their applications in for their purchase loans rather than waiting. Anytime that you know that it is going to cost you more in the future, you need to make it a point to get busy and move on. It’s important that you heed to your experts that provide you with knowledge, but it is only in your best interest; of course that is if you are ready to do so.
What’s Next for FHA?
While the insurance premiums increased, there aren’t any other changes right now which is good. Any changes that would occur I would believe to be for the better, but I can’t predict the future. I can say that an increase was expected in premiums due to the economy, but it could have been worse. I would urge anyone who is on the fence regarding buying a home to get moving before there are any more changes. Rates are going to go up, so I am telling you now to make decisions and get moving. Why pay more than you have to? Don't wait another minute, go to www.fhaloansnow.net to apply for your FHA loan today!
-Mayer Dallal
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