FHA Reduces Cost of Mortgage Insurance

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Real Estate


The FHA recently announced a 30 basis point (bps) reduction in the annual premium charged for borrowers, which will result in mortgage insurance premiums (MIP) being reduced.

The lower premiums will expand homeownership opportunities by lowering mortgage payments for qualified FHA borrowers, providing critical relief from the steep rise in home loan rates and home prices just in time for the spring buying season, according to the Mortgage Bankers Association.

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Austin Caudell

Austin Caudell


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