If you are thinking about getting a FHA loan there is an important change that will affect all FHA case numbers issued starting at 12:01 am on Monday April 18th.
Case numbers issued prior to the 18th (the preceding Friday April 15th for most lenders) will have a lower monthly payment than those issued starting Monday April 18th.
Thinking of asking a lender to issue a case number prior to the deadline? Without a property, we cannot issue a case number nor can we make up a dummy address. FHA is cancelling all inactive case numbers on the 18th anyway.
If you are a buyer and need a bit of a push to decide on a property, you may want think about this looming deadline and keep your monthly payment a bit lower by buying prior to the deadline.
Should you have any questions, please feel free to call or email Taylor Ortiz.
Before April 15th After April 15th
Purchase Price – $150,000 Purchase Price – $150,000
Monthly PMI – $109 Monthly PMI – $139
Mortgage Loan Officer