If you or someone you know are looking for a home or thinking about buying soon, it is financially advantageous to get UNDER CONTRACT prior to June 1. If you plan to buy a home anytime soon, time is of the essence. Please forward this note to any friends, colleagues, relatives who may be in the market to buy, including those who need to sell a home to move to a larger or smaller home.
In early June there will be a big change in FHA loans. The MIP (mortgage insurance premium) that has typically been part of your monthly payment for a few years will now be included for the life of your loan! When you get your home loan, this MIP may only increase your monthly payment by perhaps 30.00 - 60.00 a month, but over 30 years it is a lot of money.
Please let me know if I can help you find a Lubbock home in the next few weeks. How to get started? If you have not already, do meet with a lender. I can provide you a referral. Send me a detailed list of what you want in a home including size, price range, and preferred location. I will then do searches of homes listed in Lubbock's MLS and forward matches to you by email. You let me know which you want to see, I get an appointment and we go tour those homes.
Partly due to this FHA change, supply/demand, and the season, Lubbock homes are selling fast. If you find a home you really like, you should not take long to make an offer. And if you have a home in Lubbock or the surrounding area to sell, you maximize your prospects by listing now while buyers are trying to beat this FHA loan change deadline.
If you have any questions just send me a note or call. I am here to help with anything real estate!
Mary Benton, Lubbock REALTOR
Keller Williams Realty
806 790 1026
LIKE ME ON FACEBOOK!
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