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…

1636 Views, 1 Comments

Read Full Post

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!

Call the NMWelcomeHome Team Carlos Martinez (505) 350-8184!

This is what we have been up to over the last few weeks!

Search Homes Now

Search Homes Now

3731 Views, 0 Comments

Read Full Post

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

Click to View Larger Image Click to View Larger Image
Click to View Larger Image Click to View Larger Image

Search Stormcloud Homes For Sale Near APS Stadium

2002 Views, 0 Comments

Read Full Post