Starting Monday, April 5, 2010, getting an FHA mortgage nationwide will be more expensive for borrowers.
The time for locking into a purchase before April 30th is less than 5 weeks away. Get out there, get on some of this inventory, use some of your money for repairs if these homes are not quite perfect..negotiate for repairs, for closing costs, lock into some of the down-payment assistance programs that are available and get it done! The difference in a 30 yr.mortgage at 5.25% vs 7.00% is $192.26 a month! An increase in payment of almost $200.00! Still thinking of waiting?
If so,.. this may tip the scale…..You just reduced the amount of home you could purchase by $30,000 !! ….. Still thinking of waiting?