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Tennessee (TN) Residential Flat Fee Listing Starting at $99.00 with For Sale by Owner Right to Sale - 7017 Flagstone Drive, Ooltewah - MLS # 1174570

Ralph & Martha Howard - Company Owners: Real Estate Agent in Knoxville, TN
Tennessee (TN) Residential Flat Fee Listing Starting at $99.00 with For Sale by Owner Right to Sale - 7017 Flagstone Drive, Ooltewah - MLS # 1174570


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$153,900
Single Family Home
Main Features
3 Bedrooms
2 Bathrooms
Interior: 1,582 sqft
Lot: 0.40 acre(s)
Location
7017 Flagstone Drive
Ooltewah, TN 37363
USA

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Company Owners - Ralph & Martha Howard

Company Owners - Ralph & Martha Howard

RDH Services, LLC dba The Home Buyers Realty
(888) 932-0506
BuyWiseTN@comcast.net
http://www.TNDirectRealty.com


Listed by: RDH Services, LLC - A TN Discount Flat Fee Real Estate Company

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FHA announces another increase in mortgage insurance premiums

Richard Smith FHA VA Rural Development in TN GA : Loan Officer in Chattanooga, TN

FHA has announced another increase in their mortgage insurance premiums.

These premiums are charged to borowers as insurance against default. FHA is required to maintain a certainFHA home purchase Chattanooga TN level of capital reserves to protect against losses, and a consequence of some of the recent economic problems has been that the capital reserve levels have fallen.

FHA feels that it is necessary for another increase in the insurance premiums to bring more capital into its reserve accounts.

The changes take effect in April 1, 2012.

Effective

Annual MI Rate

Monthly charge for $150,000 loan

Up front

Mortgage Insurance

April 1, 2010

1.25%

$156.25

1.75%

April 1, 2011

1.15%

$143.75

1.0%

October 1, 2010

.90%

$112.50

1.0%

Before October 2010

.50%

$62.50

2.25%

This is the 3rd increase since October 2010, a 2.5X increase in the premium charge over the last 18 months.

This time the increase in the monthly premiums is accompanied with an increase in the upfront premium.

A subtle point in the news release is that "FHA will continue to permit financing of this charge into the mortgage." Financing the upfront premiums for mortgage insurance has been standard practice for government lending with FHA, VA, and USDA Rural Development lending.

I am taking that to mean the question of not allowing the upfront mortgage insurance to be financed was discussed. It suggests that the possibility that in the future the option to finance those upfront premiums might no longer be available.

FHA purchase loan

FHA is considering also at possibly reducing the seller concessions allowed for a purchase. This change will have greater impact on families purchasing homes less that $100,000.

It looks like the push for tighter lending standards for government home financing programs will continue. FHA will still be a good home loan program option for many buyers, but it will be more expensive. Buyers should take advantage now of low rates and low home prices.

Beautifully Remodeled Home at a GREAT Price!!

Katherine Davoren: Real Estate Agent in Chattanooga, TN
Beautifully Remodeled Home in Harrison Tn.


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$150,000
Single Family Home
Main Features
4 Bedrooms
2 Bathrooms
1 Partial Bathroom
2 Units
Interior: 1,883 sqft
Lot: 0.50 acre(s)
Location
6460 Longwood Ln
Harrison, TN 37341
USA

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Your Dream Home Now Available

Katherine Davoren: Real Estate Agent in Chattanooga, TN
Close to Town and Shopping


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View You Tube Video


















$88,000
Single Family Home
Main Features
3 Bedrooms
1 Bathroom
1 Unit
Interior: 1,464 sqft
Lot: 15,000 sqft
Location
2125 Ollie St.
Cleveland, TN 37323
USA

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Katherine Ann Davoren

Katherine Ann Davoren

Crye-Leike Realtors
(423) 443-0891
kdavoren@msn.com
http://kathydavoren.crye-leike.com



Listed by: Crye-Leike Realtors

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Home purchase in Hixson - Compare FHA and Conventional Financing

Richard Smith FHA VA Rural Development in TN GA : Loan Officer in Chattanooga, TN

Mortgage rates continue to be historically low. This home for sale in Hixson, TN, is a great example of how affordable your new home payment can be. Terri Rule with Re/Max Properties North is the listing agent for this property.

The payments shown are for a conventional 5% down payment with standard mortgage insurance and with lender paid mortgage insurance. You can compare these payment options with an FHA loan that has a lower down payment requirement.

Hixson home for sale

Many home buyers indicate that they do not like mortgage insurance, but mortgage insurance is what makes it possible to purchase a home with less than 20% down payment. Many home buyers though are not aware of the different options for mortgage insurance premiums.

By considering the different options home buyers can select the mortgage insurance option that best suits their budget and long term plans.

Terri Rule is having an open house for this home on Sunday, October 2, 2011. Call her at 423-994-3993 with any questions about this great home for sale in Hixson.

Call me, 423-280-0345, with any questions about your home purchase financing and your different mortgage insurance options. Visit my HomeBuyer YouTube channel to learn more about home buying programs.