Wichita Falls Mortgage Update

HUD has issued an increase in Mortgage Insurance Premiums effective with all case numbers assigned on or after April 4th 2011.  The annual premium will increase from 90 basis points (.90) to (1.15) basis points.  For example, this will mean an increase in monthly premiums of $75.00 per month to $95.83 or a 27% increase per month.  Obviously it is in a buyer's best interest to purchase a home prior to April 4th.

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