Darren Malon's Blog

April 15th 2011 UPDATE:  Monthly MI changing to a factor of 1.15%

Hello Friends,

It is important for you to know that FHA's monthly mortgage insurance payment will almost double this OCTOBER 4th, 2010.  If you know of any home owners who are currently paying on an FHA mortgage then NOW is the time for them to streamline refinance their loan without an appraisal.

 A $200,000 FHA loan TODAY comes with a monthly mortgage insurance payment of $91.67/month.

A $200,000 FHA loan after OCTOBER 4th will come with a monthly mortgage insurance payment of  $150.00/month.

That's a difference of $58.33 that will not apply to your principal balance!

Rate's are still very low. My average client is saving at least $125/ month on their mortgage payment when they refinance through me. If you know of any home owner's who are paying 5% or higher please forward this email to them or have them contact me so that I can FIX their loan before OCTOBER 4th. You must hurry! I have a few weeks to get their loan in!

Please call me if you have any questions regarding this email.  It is important for you to inform your freinds, family and co-workers of this change.

PS. This includes purchases.