FHA has Lowered the Cost of Mortgage Insurance

SOURCE: Mortgage News Feed

In an effort to make owning a home more affordable, the Federal Housing Administration has dramatically cut the costs associated with the mortgages it backs, from 1.35 percent of a loan’s value to 0.85 percent. A typical first-time homebuyer will save hundreds each year on mortgage payments, and even homeowners who already have a loan may be able to save. The White House estimated that these new premiums will enable 250,000 new buyers to purchase a home.

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Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.


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