Hilton Head Island, Bluffton, & The Surrounding SC Lowcountry
Blog
Feb 9, 2015
The Federal Housing Authority (FHA) announced that it will be cutting the annual Mortgage Insurance Premium rates by 0.5 percentage points, from 1.35% to .85%.
What does this mean for you?
If you were to buy a home or refinance with an FHA Loan in the amount of $200k, for example, you could save an estimated $83 a month, or $996 a year! In addition, convention mortgage rates are still at historic lows. Homeowners that have at least 20% equity in their homes, good credit, a non-delinquent loan status and a rate greater than 4.5%, would most likely benefit from refinancing.
So is now a good time to buy or refinance? I am happy to help you determine how the current financing rates and market can help you achieve your goals.
Patrick O’Leary
Branch Manager
Movement Mortgage
NMLS: 272734
843-384-5569 tel
843-628-6733 fax
8 Lafayette Place, Suite 203
Hilton Head Island, SC 29926
www.movementmortgage.com/patrick.oleary
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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