< Back to JVM's Blog

FHA Not Only for First Time Buyers; FHA MI to Increase Again

We still get many home-buyers who think FHA financing with 3.5% is only for “First Time Buyers”. That is NOT the case, however. ANY qualified buyer can take advantage of FHA Financing, as long as the property will be “owner occupied”.

FHA is increasing their monthly Mortgage Insurance from 0.90% to 1.15% for ALL case numbers ordered on or after April 18, 2011. We only need an address to order a case number, so even if you are not in contract (still in negotiation phase) we can still order a case number and preserve the lower MI rate.

Call Jay Voorhees at (925) 855-4491

Real Estate Broker, CA Bureau of Real Estate, BRE# 01524255, NMLS# 335646