March 2010

Effective April 5, 2010, FHA – Federal Housing Administration will increase the required mortgage insurance premium from 1.75% to 2.25% of the loan amount. Mortgage insurance is required on all FHA loans regardless of the loan to value ratio.

JUMBO 30 Year Fixed Rate financing has returned to the real estate finance market in the past few months. Financing is available for single family homes, as well as 2 -4 Units, for the purpose of purchasing, no cash out and cash out refinances. 10 Year interest options are available also. Interest rates are still