FHA Lowers Mortgage Insurance

FHA Lowers Mortgage Insurance

As housing continues to improve the Federal Housing Administration (FHA) announced it will reduce the annual premiums new borrowers will pay by half of a percent. This action is projected to save more than two million FHA homeowners an average of $900 annually. The reduction  will take the rate from the current 1.35 % to 0.85% and is expected to take effect towards the end of the month. FHA will publish a mortgagee letter detailing its new pricing structure in the upcoming weeks. This is great news for new buyers. 


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Phone: 602-499-1575
Dated: January 12th 2015
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