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FHA Versus Conventional Financing

Great article supplied by the Washington Post that compares FHA versus conventional financing. See excerpt and link below to read full article:

"Here’s the head-to-head: Say you want to buy a $180,000 house and you don’t have much cash for a down payment. If you go with a 3.5 percent FHA loan, you would need to come up with $6,300. If you select Fannie’s 3 percent loan, it’s just $5,400.

In Souto’s hypothetical, the rate on the FHA loan with zero points will be lower — 4.25 percent — than the 4.625 percent for Fannie. (A point is 1 percent of the loan amount.) But FHA’s new mortgage insurance premium charges spoil the rate advantage: $195.41 monthly for FHA vs. $123.68 for Fannie’s plan using private mortgage insurance. On a monthly basis, FHA costs $43.30 more — $1,064.67 compared with $1,021.37 — for principal, interest and insurance.

More important for buyers who plan to hold on to their low mortgage interest rates for years, Fannie’s insurance charges disappear when the principal balance on the loan reaches 78 percent of the purchase price of the home; that knocks $123.68 off the monthly mortgage bill. FHA’s insurance fees of $195.41 a month, by contrast, are a drag until you pay off the loan. FHA previously allowed cancellation, but that changed June 3, when the agency revoked the privilege for most new borrowers."

http://www.washingtonpost.com/realestate/fha-may-no-longer-be-the-best-source-of-a-mortgage-with-a-low-down-payment/2013/07/10/e86c7438-e7f0-11e2-aa9f-c03a72e2d342_story.html

Rochester, NY School District Rankings for 2014

This list was furnished by Business First and accounts for four years of test data from the New York State Education Department. Click here to read full article. 

These are the 67 districts in order of rank:

• 1. Pittsford (Monroe County)
• 2. Honeoye Falls-Lima (Monroe County)
• 3. Brighton (Monroe County)
• 4. Penfield (Monroe County)
• 5. Fairport (Monroe County)
• 6. West Irondequoit (Monroe County)
• 7. Victor (Ontario County)
• 8. Webster (Monroe County)
• 9. Geneseo (Livingston County)
• 10. Avon (Livingston County)
• 11. Spencerport (Monroe County)
• 12. Canandaigua (Ontario County)
• 13. Wayne (Wayne County)
• 14. Churchville-Chili (Monroe County)
• 15. Caledonia-Mumford (Livingston County)
• 16. Hilton (Monroe County)
• 17. Rush-Henrietta (Monroe County)
• 18. Honeoye (Ontario County)
• 19. Gananda (Wayne County)
• 20. Naples (Ontario County)
• 21. Bloomfield (Ontario County)
• 22. Wheatland-Chili (Monroe County)
• 23. Gates Chili (Monroe County)
• 24. Marcus Whitman (Ontario County)
• 25. Brockport (Monroe County)
• 26. Palmyra-Macedon (Wayne County)
• 27. Manchester-Shortsville (Ontario County)
• 28. Prattsburgh (Steuben County)
• 29. Williamson (Wayne County)
• 30. Livonia (Livingston County)
• 31. Penn Yan (Yates County)
• 32. Red Creek (Wayne County)
• 33. Arkport (Steuben County)
• 34. Bath (Steuben County)
• 35. Seneca Falls (Seneca County)
• 36. Marion (Wayne County)
• 37. Hammondsport (Steuben County)
• 38. Greece (Monroe County)
• 39. Dalton-Nunda (Livingston County)
• 40. Phelps-Clifton Springs (Ontario County)
• 41. East Rochester (Monroe County)
• 42. York (Livingston County)
• 43. Wayland-Cohocton (Steuben County)
• 44. Romulus (Seneca County)
• 45. Watkins Glen (Schuyler County)
• 46. Corning-Painted Post (Steuben County)
• 47. Sodus (Wayne County)
• 48. Dansville (Livingston County)
• 49. East Irondequoit (Monroe County)
• 50. Avoca (Steuben County)
• 51. Geneva (Ontario County)
• 52. Jasper-Troupsburg (Steuben County)
• 53. Mount Morris (Livingston County)
• 54. Newark (Wayne County)
• 55. Campbell-Savona (Steuben County)
• 56. Waterloo (Seneca County)
• 57. Dundee (Yates County)
• 58. Odessa-Montour (Schuyler County)
• 59. Hornell (Steuben County)
• 60. Canisteo-Greenwood (Steuben County)
• 61. Lyons (Wayne County)
• 62. North Rose-Wolcott (Wayne County)
• 63. South Seneca (Seneca County)
• 64. Clyde-Savannah (Wayne County)
• 65. Bradford (Steuben County)
• 66. Addison (Steuben County)
• 67. Rochester (Monroe County)

Real Estate in Rochester, NY

School info, homes, houses, for sale, sellers, buyers, REALTORS, listings, properties, sold, MLS, photos, brockport, ogden, mendon, brighton, fairport, pittsford, penfield, spencerport, irondequoit, webster, batavia, henrietta, gates, greece, lakeville, hilton, chili," "Houses and Homes for sale in Rochester, NY. Rochester ny real estate"

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