Want to save money each and every month?
Mortgage relief is here!
You’ve probably heard the buzz with the announcement last week on the reduction of costs on up-front FHA mortgage insurance premiums. So what does that mean for you, exactly? With mortgage rates hovering around 4 percent APR, HUD estimates that a typical FHA borrower with a $175,000 mortgage could save $100 a month by refinancing with one of these reduced-fee mortgages!
Up to three million U.S. homeowners who have FHA loans could be eligible to save around $1,000 a year with this government-backed program. This step is the latest in a series by the government to aid struggling homeowners and reduces up front and on-going fees on FHA mortgages taken out before June 1, 2009.
Bell Mortgage is here to help! If you have any questions or would like to see if you qualify for a no- to low-cost refinance to save money each month, please do not hesitate to contact your Bell Mortgage Loan Officer.
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