FHA to reduce mortgage insurance premiums by 25 bps!

QuestionsFHA to reduce mortgage insurance premiums by 25 bps!
asked 2 years ago

FHA will be reducing their annual mortgage insurance premiums by 25 basis points for all loans closed on or after January 27th. For someone purchasing a $ 300,000 home, this equals a $ 60 reduction in monthly payment. Huge news with the recent rate spike we have seen! Smiley Happy

 

https://portal.hud.gov/hudportal/documents/huddoc?id=17-01ml.pdf

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