There are a few changes coming to FHA that may affect certain clients from qualifying. This will be in effect for case numbers pulled on or after April 9th 2012.
Even though the difference looks minor of 34.91 per month. As interest rates and insurance rates continue to rise this may start to prevent buyers from qualifying for more of a home tomorrow than they do today. So if you know a few fence sitters out there you may want to share this information with them.
Also on a happier note than the above if you or anyone you know has an FHA mortgage currently and it was obtained prior to May 31st 2009. The FHA has reduced the monthly premium and the upfront premium. This has been one of bigger challenges that we been having in helping clients reduce their monthly payments. Interest rates are lower today than they were in 2009. If you or anyone you know may benefit from this, I would be more than happy to evaluate their current situation at no obligation to see if there is a benefit for them.
Please feel free to reach out to me with any questions. I would be more than happy to do a one on one and explain the above in more detail.