Many in the real estate industry were concerned about the fallout of a proposed cap to maximum seller contributions from 6 percent to 3 percent for home purchases using FHA-insured loans. But the FHA is weighing another change that may cause less concern, Inman News reports.
FHA 15 Year Fixed Rate
FHA mortgage loan 15 year fixed
Live mortgage free!
Pay off your home in half the time Owning a home can be financially and emotionally rewarding. Owning your home outright or quickly building equity can be a source of financial security. Wont my payment double on a fifteen year loan? While payments will increase on a fifteen year loan on a refinance you refinance into a lower rate 15 year loan. Than your increase can be as little as 30% with the right rate. If you have enough equity some programs don't require Mortgage Insurance even at 90% loan to value.
- 15 year loan advantages
- quickly build equity
- save interest over the life of a loan
- lower interest rates than 30 year fixed loans
- lower mortgage insurance fees