Important New Legislation

For those of you thinking of buying a home and have maybe a little higher debt to Income ratio, your credit score may need a little TLC or you may be able to buy a home but don't have enough in savings in order to qualify for conventional type financing and need to go FHA. Watch out. Starting April,1st, 2013 FHA is changing their Mortgage Insurance Premium Policy. All Loans Registered after Apr,1 will have a increased premium of 10 basis point or .10% and after June,3rd you be required to carry the MIP for the entire term of the loan. In the past when you had 78% of original balance you could have it removed. Well no longer.  For a complete report of the changes check this out FHA MIP Changes If you or your friends have been thinking of buying a home in the near future it may benefit you to act now, while interest rates are down, and before some of these effect take place. Please Call (563)271-3075 or visit www.toddseemann.com for questions or to find your next dream home.