Get a mortgage before the door shuts screams a recent headline in the Wall Street Journal. Karen Blumenthal writes in the WSJ on Feb. 26, 2011, that “if you have been sitting on the fence trying to decide whether to buy a new house or refinance a mortgage, you should act soon. New loans are starting to get costlier.”
And while that’s true, its also interesting why. Read more of the story here: http://tinyurl.com/4q64g4o
But what’s more important is to remember that not all buyers are created equal so while it’s true that FHA mortgage insurance premium’s are going up, it’s also true that a local bank might have a great deal for a Jumbo loan. Just be a wary buyer – ask questions, compare answers and find a lender who has been around the block a few times.