FHA Lower Annual Mortgage Insurance Premiums Rates!

Posted by: najirashid on Tuesday, January 13th, 2015

Great news for FHA buyers. Effective January 26, 2015 FHA is lowering the annual Mortgage Insurance Premiums rate from 1.35 percent to 0.85 percent. For the typical first-time homebuyer, this reduction will translate into a $900-$1,000 reduction in their annual mortgage payment. Existing homeowners who refinance into an FHA mortgage will see similar reductions to their mortgage payments as well. This action will help millions of families save billions of dollars in mortgage payments in the coming years, helping the housing market recovery.

Topics: Buyers, Financing, First-Time Home Buyers, General, Home Buyers, News

 

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