Beginning April 1st, 2012 FHA will be raising their upfront Mortgage Insurance. You may be asking yourself 'how does this effect me'?

Here is a scenario:

Your current loan approval amount $150,000 FHA

Old Monthly MI = 1.15% = $143.75 Monthly MI

New Monthly MI = $1.25% = $156.25 Monthly MI

Old Upfront MI = 1% or $1500 based on above loan amount (added to loan amount)

New Upfront MI = 1.75% or $2625 based on above loan amount (added to loan amount)

This means that you would qualify for about $5,000 less on your mortgage with the new increase beginning April. Your loan amount would decrease to $145,000.

This reduction may be signficant to a buyer trying to max out their purchase, which happens all the time, by the way. If you feel you this…

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We Can Sell Your Too!If you are looking to get your home SOLD please give me a call!  We have a large database of qualified buyers and know how to advise you in selling your home and how to make the BEST First Impression!

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The APS Stadium is going to be built. Here is some general information on the project and location in relation to neighborhoods. I am skeptical of the traffic but also feel that the location will suit this stadium well because of its location to the freeway. I think this will minimize traffic by the current neighborhoods and be a great ammenity to the entire Northwest side of Albuquerque.

More Information at APS FAQ

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Search Stormcloud Homes For Sale Near APS Stadium

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