In 7 Days The Hottest AZ FHA Mortgage Loan Deal Will Expire..

There are two reasons why getting under contract and locking your AZ FHA Mortgage Loan by March 31st, 2010 will save you money and assure you are getting the hottest Arizona FHA Mortgage Loan that has ever been available.

Reason #1 -

Granted, this may be a bit on the speculative end but lets look at the facts.

The Feds have been buying Mortgage Backed Securities at a CRAZY pace.  The plan has been that the Feds would buy Mortgage Backed Securities through the end of March 2010 in an effort to ARTIFICIALLY KEEP INTEREST RATES LOW.  The Feds were to buy 1.25 Trillion in MBS and as of now have bought 1.236 Trillion.

Right now the end of March is about 168 hours away..

With the First Time Home Buyer Tax Credit expiring, the USDA running out of funds in April and the exit of the Feds buying Mortgage Backed Securities; what will happen to AZ FHA Mortgage Interest Rates?

Most Industry Professionals believe we will see them rise.

SOLUTION:  Get a contract on a property and Lock your Arizona FHA Mortgage Loan TODAY!

Reason #2 -

Based on cold hard fact, no speculation at all.  On April 2nd, 2010 HUD will increase the Up Front Mortgage Insurance Premium from 1.75% to 2.25%.  On a $200,000 AZ FHA Mortgage Loan that is an additional cost of $1,500.

Can you avoid that extra $1,500 Fee to HUD?

Yes, but you must move quickly.  The solution is the same as above; write up a contract on a property and have your AZ FHA Mortgage Loan Originator order the FHA CASE NUMBER before April 2nd.  This way, even if you close in May, you will still get in under the lower UFMIP amount.

I’d love to hear your thoughts and comments on these two items.  Given the economic condition of the country, do you think the Feds will EXTEND their purchases of the Mortgage Backed Securities?

Leave your thoughts below..

Apply online for an Arizona FHA Loan and get pre-qualified today. Or click the Get Started tab above, to get started today!