I just wanted to take a second and update you on some current and soon to be FHA mortgage loan changes that may affect Nashville area home sellers and home buyers. As of last month FHA has changed its up front and monthly mortgage insurance premiums. The new upfront premium is 1.75% and the new monthly premium is .55%. Prior to these changes both the monthly and the upfront were credit score driven.

The other change that will go into effective on January 1, 2009 is the new minimum down payment that will be required on all FHA loans. FHA will change the minimum required down payment to 3.5% which is up from 3%. The borrower is still allowed to get this gifted from a relative but no longer from Down Payment Assistance Programs.

As always, Heather, Kristi, Gary, Josh, Gena, and I are always available to answer any questions you may have regarding Middle TN mortgage loans.  Click here to speak to me immediately.

The JoAnne Staler Group specializes in first time home buyers.  We offer home purchase counseling to walk you through every step of purchasing your first home in the Nashville TN area.  We’ll help you find your perfect Nashville neighborhood, educate you on financing options, assist in the mortgage loan prequalifying process, find your dream home, guide you through the home inspection,  make sure the final contract is in your best interest and coordinate the closing.  Click here to see Why Nashville area home buyers choose me as their real estate agent.

To see what other TN Home Buyers have said about JoAnne please click here. 

New to the home buying process? Click here to tell me your concerns or ask me questions. It’s my job to help! There’s no obligation, and I promise to get back to you quickly… 

JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit www.JoAnneStaler.com.

Click here to pre-qualify for your Brentwood, Franklin or Nashville TN mortgage loan.

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