How Lower Mortgage Insurance Effects YOU!

I have had quite a few questions lately on how the changes made in January to lower mortgage insurance actually effect your buying power (the amount you are approved for through a bank to purchase a home).

Example:  In January if you were pre approved for $205,000 and have done nothing to improve/lower your credit score, your buying power is now $220,000.  That is a $15,000 difference, and you didn't have to do anything. Pretty Aweome!  If you have been house shopping online via redfin, zillow, or windermere, you know that $15,000 makes a substantial difference in the houses you are looking at.  

Please contact me if you have any questions or would like to know more about the hows/whys and see how your buying power has changed since January.  I am happy to help!

Cheers!

 

Posted on February 24, 2015 at 7:12 pm
Aimee Slesk | Category: First Time Home Buyers, Mortgage Insurance | Tagged , , , , , , , , , , , , , , , , , , , , , , , , ,

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