04-22-2013, 10:12 PM
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#1 (permalink)
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A True Z Fanatic
Join Date: Mar 2013
Location: Las Vegas
Posts: 1,356
Drives: 2016 Mazda MX-5 Club
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Quote:
Originally Posted by Infamous
I'm in vegas too. Have you seen home prices now though? Primarily new homes? Especially since the sub $215k market is being taken over by investors paying cash. Leaving first time home owners, like myself, having to buy new. I got a reservation on my home and less than a month later the price increased 10k. The new FHA loan rule started April 1st. You can not get rid of your PMI's after your LTV is less than 80% and after 5 years into your loan as you could before. The only way is to drop 20% down and go with a conventional loan. If you have 20% and can qualify for a conventional, I'd go for it now.
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I have noticed this with new homes. Was looking at a home in November for $150k and its now $190k for the same home. This is in mountains edge. However, existing homes are slow growing.
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