HELP REBUILD OCEAN VIEW PARK IN HALF MOON BAY

The information provided below was sent by my dear friend, Kristen O’Brien, the President of the Coastside Mother’s Club.

Half Moon Bay’s Ocean View Park needs a new play structure. Our entire community is working together to raise money to replace the old one, which is out of service and must be removed. Here is an easy opportunity to get involved (or help us if you live somewhere else, but like to visit Half Moon Bay). One of our favorite Main Street restaurants, Pasta Moon, is working with Juice in the City to offer a great deal and fundraiser: 

http://www.juiceinthecity.com/markets/peninsula-south-bay/deals/25-for-50-towards-a-delicious-farm-to-table-meal-at-pasta-moon?referrer=3crcq0slu8&utm_source=coastsidemothersclub&utm_medium=email&utm_campaign=pastamoon 

Please click the link above to check out this great deal (hint: you get 50% off). If you feel inspired to enjoy (or gift) an incredible meal at Pasta Moon, please buy this deal today. When you do, 20% of the proceeds go directly to Operation Ocean View bringing us one step closer to getting our kids back on the playground.

For more information about the park project, visit www.operationoceanview.com.

Si mangia bene! And please forward this link to everyone you know who loves to eat.

Very gratefully (and dreaming of Pasta Moon’s unforgettable baked eggplant parmesan),

Kristen O’Brien, President
Coastside Mothers’ Club
www.coastsidemothersclub.org

CHANGES TO THE ANNUAL MORTGAGE INSURANCE PREMIUMS

 

On February 14, 2011 FHA announced changes to the annual Mortgage Insurance Premiums on all FHA transactions. Effective with FHA case numbers ( you must be in contract to get a case number) assigned on or after April 18, 2011 the annual MI premiums will increase by 25 basis points (bps).  The following table is to demonstrate the changes

Loans > 15 Years

                            ˜ 95% – 85 bps to 110 bps

                             > 95% – 90 bps to 115 bpsL

Loans ˜ 15 years

     ˜ 90% – None to 25 bps

    >90% – 25 bps to 50 bps

What does this mean? On a 30 year mortgage for $600,000, the FHA loans monthly premium will increase by approximately $125 which is roughly the equivalent of $20,000 in purchasing power.

A couple of things to consider…

There are no changes to the Up-Front Mortgage Insurance Premiums – it will remain at 1% and can be financed in to the loan

The change is effective with FHA case numbers assigned on or after April 18, 2011

15 year FHA loans with LTV’s below 90% remain at -0- annual MI

The change applies to refinance transactions also.

Thank you to Holly Brand and Wells Fargo for supplying this information.

Dave Tapper