What Just Happened With FHA Loans & What Is The News On Conventional Loans?

Have you thought about buying? Maybe you even started looking a few years back but put it off for one reason or another? Well, welcome to the time of "No more excuses".  Interests rates are hovering around 3.75% and even less, so if you qualified for a loan years ago when interest rates were in the mid to high 4%, it is likely you can afford more than you thought you ever could now.  And some other terrific news is that with FHA loans, which you can have a minimum of 3.5% down, they have recently lowered the annual mortgage insurance.  So not only is it possible to be able to get an interest rate with FHA for lower than a conventional loan rate, the mortgage insurance is less now. So, what are you waiting for?  Don't look back a year from now and say to yourself "I wish I would have..." Call me and lets talk and you need to do yourself the favor of talking to a loan person and seeing what you can purchase today.

Here is a great article from the Washington Post that gives a great description of how FHA is working today after the recent change.

http://www.washingtonpost.com/realestate/many-gain-from-new-fha-insurance-rules-but-conventional-loans-are-better-for-some/2015/01/15/ca58179e-9a7e-11e4-bcfb-059ec7a93ddc_story.html